Appellate Tribunal stays recovery of disallowed Modvat credit & penalty for M/s. Indian Wire Products.

The Appellate Tribunal CESTAT, New Delhi stayed the recovery of the disallowed Modvat credit and penalty for M/s. Indian Wire Products as the RT-12 returns showed no suppression, scheduling the appeal for regular hearing on 27-11-2003.

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The Appellate Tribunal CESTAT, New Delhi heard the case of M/s. Indian Wire Products regarding the waiver of pre-deposit of disallowed Modvat credit and penalty. The Tribunal stayed the recovery of the disallowed amount and penalty as the RT-12 returns had been filed by the Applicants, indicating no suppression. The appeal was scheduled for regular hearing on 27-11-2003.

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