2001 (10) TMI 1019 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi considered an application by M/s. Hero Cycles Ltd. for waiver of pre-deposit of Rs. 24,20,953.42 paisa confirmed by Commissioner (Appeals). The appellant argued that Modvat credit was disallowed due to the supplier using old blank printed invoices with new serial numbers, approved by the Superintendent. The Tribunal found a strong prima facie case in favor of the appellants and stayed the recovery of the confirmed amount during the appeal. The final hearing was scheduled for 12-11-2001.