2001 (10) TMI 605 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi granted complete waiver of pre-deposit of penalty amounts and stay of recovery pending appeal for an assessee-company and its Director. The mandatory penalty was imposed on the company for clandestine removal of goods, but the finding was based on a presumption without concrete evidence. The Tribunal found the presumption unsustainable in law and granted the waiver and stay for maintaining the appeals on merits.