2002 (3) TMI 762

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Shri T.K. Kar, SDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - Vide Stay Order No. S-1200-1201/Cal/2001, dt. 21-1-2001, the applicant M/s. S.R. Springs Pvt. Ltd. were directed to deposit an amount of Rs. 10,00,000/- (rupees ten lakh) towards duty and Rs. 2,00,000/- (rupees two lakh) towards penalty within a period of eight weeks from that date. In the present miscellaneou .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ppreciated by the Bench by observing that the availability of credit depends upon number of factors and inasmuch as the appellant could not produce the statement showing the availability of the credit, the said plea was not entertained. Shri Bagaria submits that at the time of passing of the stay order, the exercise concerning verification of the invoices and duty paid character of inputs was not .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... before us. As such he submits that inasmuch as the duty liability would get neutralised with the credit available to the appellant, the stay order in question requiring the appellants to deposit an amount of Rs. 10,00,000/- (rupees ten lakh) towards duty be modified. Shri Bagaria also pleads financial hardship. 3. We have also heard Shri T.K. Kar, ld. SDR for the Revenue. 4. It is seen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he appellant have earned more credit than their duty liability confirmed under the impugned order. In these circumstances we are of the view that the stay order needs modification. Accordingly we dispense with the condition of pre-deposit of duty and penalty as directed in the said stay order. 5. Inasmuch as admittedly the said plea of availability of Modvat credit was not taken by the appel .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... y upon the appellant are left open for the Commissioner to decide in the de novo proceedings. 6. In view of the foregoing we allow the stay petition and remand the matter to the Commissioner for de novo adjudication in the light of the observations made by us in the preceding paragraphs. 7. The appeal of Shri S.H. Mohan Lal Sharma, of the appellant company is also remanded.
Case la .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X