Waiver of pre-deposit granted in CESTAT case for interest deduction. Revenue appeal overturned. Stay Petition allowed. The Appellate Tribunal CESTAT, New Delhi allowed the waiver of pre-deposit of duty for the applicants in a case where the deduction claimed on interest on ...
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Waiver of pre-deposit granted in CESTAT case for interest deduction. Revenue appeal overturned. Stay Petition allowed.
The Appellate Tribunal CESTAT, New Delhi allowed the waiver of pre-deposit of duty for the applicants in a case where the deduction claimed on interest on receivables was deemed justified. The Revenue's appeal against the decision was overturned by the Commissioner (Appeals) due to lack of evidence challenging the initial finding. The Stay Petition was unconditionally allowed, and the pre-deposit of duty was waived for the appeal hearing, adjourned to 1-12-2003 for regular proceedings.
The Appellate Tribunal CESTAT, New Delhi allowed the waiver of pre-deposit of duty in favor of the applicants in a case where the deduction claimed by the applicants on interest on receivables was held justified by the Assistant Commissioner. The order setting aside the decision was appealed by the Revenue but was overturned by the Commissioner (Appeals). The Tribunal found that the Revenue did not provide evidence to challenge the initial finding. The Stay Petition was unconditionally allowed, and the pre-deposit of duty was waived for the appeal hearing, which was adjourned to 1-12-2003 for regular proceedings.
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