2013 (4) TMI 160 - AT - Central Excise

Waiver of pre-deposits - Cenvat Credit - Rule 6 - maintenance of separate accounts - simultaneous claim for benefit of notification No. 30/2004-C.E & No. 29/2004-C.E. - held that - prima facie case is in favor of assessee - stay granted.

Summary

The Appellate Tribunal CESTAT Mumbai allowed the stay petition of an applicant who filed for waiver of pre-deposit of duty, interest, and penalty amounting to Rs. 3,07,35,285. The applicant maintained separate accounts for goods cleared under two notifications, which was recognized by the Hon'ble Bombay High Court and Board's Circular. The Tribunal found the applicant had a strong case, waived the pre-deposit, and stayed the recovery during the appeal.