1998 (3) TMI 444 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai heard an application for waiver of a deposit amount of Rs. 14.20 lakhs. The applicant took credit on an invoice endorsed by M/s. Ayub Silk Factory. There were conflicting decisions on whether credit could be taken on endorsed invoices. The Tribunal ordered the applicant to secure revenue to the extent of Rs. 1.5 lakhs within six weeks, allowing a waiver for the remaining amount. Compliance was required by 30-3-1998.