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TMI Blog2016 (9) TMI 831X X X X Extracts X X X X X X X X Extracts X X X X ..... Chennai Vs. M/s.Aristo Spinners Pvt. Ltd.[2008 (1) TMI 160 - HIGH COURT MADRAS] relied upon. The petitioner need not be called upon to approach the Assistant Commissioner (Refunds) and the first respondent himself can consider the petitioner's claim as the first respondent has cancelled the bond and bank guarantee on the petitioner producing the Export Obligation Discharge Certificate. The petitioner to submit a representation along with a copy of this order - after taking note of the legal position and also the factual position, refund to be effected within a reasonable time, not later than eight weeks from the date of the receipt of the representation - petition disposed off - decided in favor of petitioner. - W. P. No. 27525 of 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hird respondent through a letter dated 05.09.2011, addressed to the Central Bank of India, Nizambad, called upon them to pay the bank guarantee amount on the ground that the petitioner-Company did not fulfill the export obligation within the stipulated period and the Bank effected payment to the third respondent on 10.10.2011. Thereafter, the petitioner obtained a redemption letter from the licensing authority for completion of export obligations and placed it for consideration before the first respondent and requested for cancellation of the bond and bank guarantee and return the same. The first respondent accordingly stated that the bond and bank guarantee executed are duly cancelled against the submission of the export obligation dischar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee should provide a bank guarantee for the full amount of tax or duty or part thereof. The bank guarantee is the security for the revenue that in the event of the revenue succeeds, its due will be recoverable being backed up with the guarantee of the bank. The amount of disputed tax or duty that was secured by a bank guarantee could not therefore be held to be paid to the revenue. Thus, it is clear that the furnishing of bank guarantee cannot be regarded as payment of duty by the importer to the revenue. Section 27, which speaks about the refund of the duty paid cannot be pressed into service to deny the refund. 7. In an identical set of facts, this Court, in the case of Commissioner of Customs (Exports) Vs. M/s.Jraj Exports (P) Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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