2008 (2) TMI 757

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..... r]. - This application filed by the Revenue (appellant) is for stay of operation of the impugned order, wherein ld. Commissioner (Appeals) upheld an order of the original authority granting refund of an amount of ₹ 6,32,000/- to the assessee (respondent). After examining the records and hearing both sides, I am of the view that the appeal of the Revenue itself requires to be finally dispos .....

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..... nd the first appellate authority sustained the decision. Hence this appeal of the Revenue. 3. The lower appellate authority has relied on the Tribunal's decision in the cases of Lucas TVS Ltd. v. CCE, Chennai, 2006 (206) E.L.T. 839 (T) = 2004 (97) ECC 456 (Tribunal) and CCE, Chennai v. Aristo Spinners (P) Ltd., 2007 (212) E.L.T. 430 (Tri.-Chennai), wherein bank guarantees encashed by the Rev .....

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..... h the ruling of the Apex Court rendered in Oswal Agro Mills Ltd. v. Asst. Collector, Ludhiana, 1994 (70) E.L.T. 48 (S.C.), wherein bank guarantee furnished by an assessee under court's order to secure the Revenue was held not amounting to payment of duty of excise and, accordingly, the provisions of Section 11B of the Central Excise Act was held inapplicable to a claim for refund of such amount. .....

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