Assessee company received refund of excise duty in pursuance of Supreme Court  order, subject to condition that assessee should furnish bank guarantee till the main appeals before the apex court are finally disposed of.  On Appeal the Tribunal held that the condition of furnishing a bank guarantee will not make any difference and refund of excised duty is liable to tax during the year under consideration.  (AY.2004-05 & 2005-2006)