V.K. Jain, Member (T)
Page 189
1. Heard Shri S.P. Majumdar, ld. Advocate on the stay petition filed by the appellants. The duty involved in this case is of Rs. 1,81,472 (Rupees one lakh eighty one thousand four hundred seventy two only) and a penalty of Rs. 15,000 (Rupees fifteen thousand only) has been imposed on the appellants. He submits that after issuance of Board’s Notification 7/99-NT dated 9th February, 1999, the department has no case to confirm the demand. In support of this, he cites a number of decisions where the Tribunal has held that the modvat could not be disallowed where payment of duty on the goods not disputed where declaration is not filing, the credit cannot be denied. He submits that the appellants have already deposited an amount of Rs. 1,00,000 (Rupees one lakh only) in pursuance of stay order passed by the commissioner (appeals) which is still lying with the department.
2. Heard Shri A. Raha, ld. SDR for the Revenue.
3. After hearing both sides, I find that the appellants have already deposited an amount of Rs. 1,00,000 (Rupees one lakh only). Since the appellants have already deposited a sum of Rs. 1,00,000 (Rupees one lakh only), I despense with the rest of the duty and penalty.
Pronounced in the open court.