1999 (2) TMI 207 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai considered an application for waiver of deposit of Rs. 5.04 crores and penalty of Rs. 50 lakhs under Rule 173Q. The applicant did not avail exemption but paid duty and took modvat credit. Tribunal waived the deposit based on previous decisions. The appeal will be heard on 4th May, 1999 due to the large revenue involved and repetitive nature of the issue.