2000 (11) TMI 444 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi allowed waiver of pre-deposit of Rs. 9,94,877.40 and penalty of Rs. 11 Lakhs in a case involving disallowed Modvat credit. The Tribunal found a prima facie case for waiver due to minor discrepancies in declaration of inputs. The applicant agreed to reverse an amount of Rs. 31,283.35 and was required to deposit this sum within one week.