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TMI Blog2013 (4) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... is decided by the Tribunal in favour of the assessee, Revenue is bound to release the Bank guarantee within 90 days of the said order. As per the Board's Circular, the Revenue is bound to release the bank guarantees unless and until it is stayed by the higher forum. No stay is obtained by the Revenue as per the report filed by them - Therefore, in the interest of justice, Revenue is granted 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order of this Tribunal the revenue is not releasing the bank guarantees. 2. Perused the records. On perusal of the records, we find that this tribunal has passed the order on 30.10.2012 which was pronounced in the Open court and as per the Board's Circular no. 802/35/2004-CX dated 8.12.2004, when an issue is decided by the Tribunal in favour of the assessee, Revenue is bound to release the Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal before the Hon'ble Supreme Court against the judgement of Hon'ble Tribunal. Accordingly, this office is in the process of sending a proposal to the Legal Cell, CBEC for filing an appeal along with the stay application on the said order. You are, therefore, requested to plead before Hon'ble Tribunal craving their indulgence to allow us to hold the Bank Guarantee for a period of six months ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... venue is bound to release the bank guarantees unless and until it is stayed by the higher forum. No stay is obtained by the Revenue as per the report filed by them. Therefore, in the interest of justice, Revenue is granted 10 days time to comply with the Tribunal's order dated 30.12.2012 (sic), failing which the concerned official shall face the consequences. The matter to come up on 08/04/2012 (s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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