Release of the bank guarantee - once the assessment order is set ...

Case Laws VAT and Sales Tax

January 24, 2016

Release of the bank guarantee - once the assessment order is set aside by the Appellate Authority, the security relating to the demand comes to an end. Once the assessment order is set aside, there is no requirement for the assessee to continue to furnish security or in the instant case, the bank guarantee. - HC

View Source

← Previous Next →

Release of the bank guarantee - once the assessment order is set ...

Case Laws VAT and Sales Tax

January 24, 2016

You may also like:

Refusal of the Bank to invoke the Bank Guarantee - Adjudicating Authority has taken the view that since CIRP proceedings were continuing the Bank Guarantee cannot be...

Refund - The solvent security is that of a person who is entitled to/recipient of the amount. Whereas, the ‘bank guarantee’ is a guarantee given by the bank on behalf of...

Release of detained goods alongwith the vehicle - condition of furnishing the Bank Guarantee with bond - It is quite clear that second option of furnishing the security...

Gross violation of CBEC instructions and the precedential value of CESTAT decisions. The Revenue filed an appeal before the first Appellate Authority without specifying...

The High Court addressed a dispute regarding the release of seized goods before an Assembly Election process. The court held that release is permissible u/s the Central...

DFIA Scheme - Conditional provisional release of goods - in-shell walnut - The adjudicating authority has discretion with respect to the security and conditions that he...

The Court held that imposing a condition of furnishing a bank guarantee while granting bail is illegal. The Apex Court, in Subhash Chouhan v. Union of India, ruled that...

Release of seized goods - confiscation - First appellate authority set aside the original order - Non-release of goods has been justified and defended by the respondents...

Demand of bank guarantee as security to stay recovery proceedings - under Rule 37(1) of the U.P. VAT Rules, 2008, the respondents would have demanded the petitioner to...

Constitutional validity of Section 33(5) of the Haryana Value Added Tax Act, 2003, regarding the waiver of the condition of pre-deposit of surety bond or bank guarantee,...

Petitioner sought implementation of Appellate Authority's order to release seized gold ornaments due to discrepancy between delivery challan quantity and actual quantity....

Encashment of Bank Guarantees during CIRP period - scope of moratorium u/s 14 of IBC - If bank guarantee is beyond the mentioned amount in the bank guarantee, if the...

Liquidation Proceedings - Invocation of Bank Guarantee - there is no material to show that any fraud was played by the Corporate Debtor in obtaining Bank Guarantee from...

The subordinate authority is not empowered to supersede the orders passed by the appellate authority and an administrative discipline requires that the subordinate...

The NCLAT upheld the legality of invoking a Performance Bank Guarantee (PBG) by the Nominated Authority during the moratorium period. It relied on the Supreme Court's...

Quick Updates: