2001 (11) TMI 471 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai heard an appeal regarding waiver of pre-deposit and penalty related to transitional credit under the Modvat scheme. The appellants, exempted from maintaining certain records, faced challenges in proving the accurate estimate of stock. The Tribunal allowed the appeal and remanded the case to the Deputy Commissioner for the assessee to demonstrate the quantity of inputs available on the material date.