1996 (5) TMI 189 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai directed the appellants to deposit Rs. 1,20,97,078/- towards duty and Rs. 1,00,000/- towards penalty for hearing the appeal. The appellants claimed Modvat credit on documents later rectified, but the JDR argued that irregular documents cannot be accepted for Modvat credit. The Tribunal accepted the advocate's offer, directing a deposit of Rs. 12,00,000/- within 2 months for stay against recovery and waiver against pre-deposit of the balance of duty and penalty amount. Compliance to be reported by 9-8-1996.