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2013 (10) TMI 404 - CESTAT MUMBAICENVAT Credit on Capital Goods - 100% credit availed in the first year – Waiver of Pre-deposit – Held that:- The appellant has taken credit on capital goods wrongly, which was not due to them in the first year, the appellant is liable to pay interest on such credit wrongly availed from the date of taking of the credit till the end of the financial year - the interest liability would be approximately Rs.3.25 lakhs - on the wrongly availed credit of Rs.14.42 lakhs, the interest liability would be approximately Rs. 3 lakhs - the appellant was liable to make pre-deposit of Rs.6.25 lakhs – upon such submission pre-deposit of balance of dues against the appellant shall stand waived till the disposal – Partial Stay granted.
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