Customs, Excise and Gold Tribunal - Mumbai
New Chemi Industries Ltd. vs Commissioner Of Central Excise, ... on 7 December, 2001
JUDGMENT
1. This stay application is for the order or recovery of modvat credit of Rs. 1,32,859/- and penalty of Rs. 14,000/- imposed as the lower authorities did not accept the application for condoning the loss of document on which credit was eligible.
2. After hearing the learned advocate for the appellant and the DR, I find, that the appellant have deposited the entire amount of modvat credit which was the subject matter of this appeal. The penalty of Rs. 14,000/- is only contesting. In that view of the matter and since prima facie I find the appellant have a good case on merits for eligibility for the credit I would order stay of the recovery of the entire amount of penalty now contesting pending the final disposal of this appeal.
3. Appeal to be listed in normal course.