2014 (11) TMI 197 - AT - Central Excise

Waiver of pre-deposit - Suo moto credit - Payment of duty without clearance - Later on suo moto credit taken - Revenue is of the view that suo motu credit is not available assessee have to file refund claim - Held that - issue has been considered by the Hon ble High Court in the case of ICMC Corporation (2014 (1) TMI 1473 - MADRAS HIGH COURT), therefore, applicant has made out a case for 100% waiver of pre-deposit. Accordingly, I waive the impugned demands and stay recovery thereof during the pendency of the appeal.

Summary

The judgment pertains to the waiver of pre-deposit of suo motu credit taken by the applicant. The applicant initially paid duty without clearance and later took suo motu credit. Revenue denied the credit, stating it should be claimed as a refund. The applicant cited a High Court case supporting their claim for credit. The Tribunal granted 100% waiver of pre-deposit and stayed recovery during the appeal.