CESTAT Chennai: Waiver of pre-deposit & stay of recovery granted in Customs Act appeal

The Appellate Tribunal CESTAT, Chennai ruled in favor of the appellants, allowing waiver of pre-deposit and stay of recovery of duty amount of Rs. 9,87,304. A Bank Guarantee furnished by the appellants during provisional assessment was accepted for Section 129E of the Customs Act, 1962, with the condition to keep it active until the appeal's final disposal.

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The Appellate Tribunal CESTAT, Chennai ruled in favor of the appellants, allowing waiver of pre-deposit and stay of recovery of duty amount of Rs. 9,87,304. A Bank Guarantee furnished by the appellants during provisional assessment was accepted for Section 129E of the Customs Act, 1962, with the condition to keep it active until the appeal's final disposal.

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