2003 (7) TMI 513 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai ordered the assessee to deposit Rs. 39.45 lakhs duty and Rs. 41.45 lakhs penalty, with the director depositing Rs. 5 lakhs penalty. The dispute was over whether nylon monofilament yarn qualified for duty exemption under a specific notification. The Tribunal found no distinction between nylon monofilament and nylon monofilament yarn, waiving the deposit and staying recovery pending further hearing on August 27, 2003.