1997 (9) TMI 215 - AT - Central Excise

Summary

The applicant sought waiver of pre-deposit of Rs. 60,339.12 and penalty of Rs. 25,000. The Assistant Commissioner allowed Modvat credit of Rs. 2,33,970.76 but disallowed Rs. 1,63,198/-. The Commissioner accepted Modvat credit of Rs. 1,02,859.88 for 3 invoices but disallowed Rs. 60,339.12. The Tribunal granted waiver of duty and penalty, restraining recovery until appeal disposal.