2002 (2) TMI 537 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai ordered a stay on the recovery of duty and penalty totaling Rs. 25.25 lakhs and Rs. 5.20 lakhs respectively, imposed on the assessee for taking credit on inputs used in manufacturing final products exempted by a notification. The Tribunal cited a previous decision allowing duty payment on exempted goods for claiming Modvat credit. The appeals are listed for hearing on 18-3-2002, considering the recurring issue.