Customs, Excise and Gold Tribunal - Delhi
M/S. Bajaj Hindustan Ltd. vs Cce, Ghaziabad on 9 January, 2001
ORDER
Lajja Ram
1. Heard both sides.
2. It has been held by the appellate authority that the appellants had reversed the modvat credit even before the show cause notice was issued.
3 Shri S.N. Srivastav, Advocate submits that there was no intention on the part of the appellants to evade payment of duty and they were under the bonafide belief that a modvat credit could be taken in the facts and circumstances of the case.
4. After hearing both the sides, for hearing the appeal, I direct the appellants to deposit Rs.10,000/- (Rupees Ten Thousand only) within a period of 4 weeks from today , On depositing the above sum of Rs.10,000/- with the period as stipulated above i.e. four weeks from today, the pre-deposit of the balance penalty amount will be waived and recovery stayed till the disposal of the appal.
To come-up for reporting the compliance and further orders on 12.2.2001.
Order dictated & pronounced in the Open Court on 9.1.2001.