Refund claim - the respondents are bound to honor the redemption ...

Respondents Must Honor Redemption Letter for Refund Without Proof of Bank Guarantee Encashment; Department to Review Records.

January 13, 2018

Case Laws Customs HC

Refund claim - the respondents are bound to honor the redemption letter and effect the refund. The respondents cannot call upon the petitioner to prove when the bank guarantee was encashed. It is for the Department to verify their records and come to a conclusion. - HC

View Source

← Previous Next →

Refund claim - the respondents are bound to honor the redemption ...

Respondents Must Honor Redemption Letter for Refund Without Proof of Bank Guarantee Encashment; Department to Review Records.

January 13, 2018

Case Laws Customs HC

You may also like:

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...

Refund claim - monies obtained by the revenue, against the encashment of three bank guarantees - Given the fact that there is a stay on the demand raised by the...

HC stayed encashment of bank guarantee. Coercive measures prohibited during appeal limitation period under Circular 984/08/2014-CX. Pre-deposit made, remaining amount...

The text appears to be a comprehensive legal document outlining bank guarantee and customs bond procedures. Here's the focused legal summary: The document establishes...

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...

Invocation of Bank Guarantee allowing the Application of the Resolution Professional - Performance Bank Guarantee or not - as per the facts of this case, the Bank...

IBC - Invoking Bank Guarantee - Corporate Debtor has issued bank guarantee for ensuring the price of goods. The bank guarantee is irrevocable and unconditional and...

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...

TP adjustment commission on letter of credit - international transaction or not? - CIT (A) appreciated the difference between corporate guarantee and Letter of Comfort....

Interest on Refund - claim of interest from the date of encashment of bank guarantees till grant of refund - The 3rd respondent has committed an error in recording an...

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...

Invocation and encashment of Performance Bank Guarantee(s) (PBG) granted by the Appellant - surety in a contract of guarantee to a ‘Corporate Debtor’ - A Performance...

Refund claim of the amount of pre- deposit - As per the cenvat credit rules, an assessee can take the cenvat credit of any duty paid on the inputs used in the...

RCM - payment of guarantee fee towards receipt of Bank Guarantees - These are not the guarantees provided by a corporation for it’s subsidiaries but are pure bank...

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...

Quick Updates: