On completion of assessment for the year 2012, a sum of money has been assessed as due to us. However, the authorities are demanding a bank guarantee from us for the amount of the refund, and only then the refund will be paid to us. The reason is that there was a demand made on us for an earlier year's assessment. However, we have got a Court order, staying this demand. Hence, we feel that this demand for bank guarantee for the current year's refund due to us is not justified. Views of the learned memebers, along with case laws would be greatly appreciated. Thanks.
Email:shankar_mayur@hotmail.com
