1997 (6) TMI 203 - AT - Central Excise

Summary

The judgment concerns an application for waiver of pre-deposit of Rs. 51,48,925/- and a penalty of Rs. 30,00,000/- related to wrongly availed Modvat credit on capital goods. The dispute revolves around whether certain items used as raw materials for structures qualify as capital goods under Rule 57Q. The Tribunal directed freezing the Modvat amount demanded in the impugned order in the capital goods Modvat account until the appeal's disposal, dispensing with the penalty pre-deposit and staying recovery. Compliance with the order was set for 14-7-1997.