1999 (2) TMI 213 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai considered an application for waiver of deposit of duty of Rs 97.91 lacs and penalty of Rs. 5.00 lacs. The applicant claimed credit on goods received under duplicate invoices, which were later lost. The Tribunal accepted the offer to keep Rs. 25.00 lacs frozen in the Modvat account, waiving the deposit of duty and penalty, and staying their recovery. Compliance was required by 5-3-1999.