1998 (3) TMI 240 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, CALCUTTA allowed the appeal for waiver of pre-deposit and stay of recovery of Rs. 1,43,224/- demanded as Modvat credit reversal and penalty. The lower authorities ordered the reversal due to delayed registration of the dealer issuing invoices, but the Tribunal found the reasons genuine and allowed the appeal. Notification 64/94 permitted credit to be taken by 31-12-1994, and the Board took a liberal approach. The delay in taking credit was due to delayed dealer registration, justifying the procedural deviation. The appeal was allowed, and the Stay Petition was disposed of.