2000 (9) TMI 465 - AT - Central Excise

Summary

The judgment by the Appellate Tribunal CEGAT, Mumbai involved a waiver application for duty and penalty under Section 11AC of the Act amounting to Rs. 54.85 lacs. The demand for duty was contested due to inclusion of notional interest on security deposit, compensation for short lifting, and interest on land cost. The Tribunal ruled in favor of the applicant, waiving the duty and penalty and staying their recovery.