Appellate Tribunal grants stay in Modvat credit denial case

The Appellate Tribunal CESTAT, New Delhi granted a stay in a case involving denial of Modvat credit and penalty imposition. The appellant had initially claimed credit based on a Bill of Entry copy, later lost during DEPB benefit claim. The appellant argued that the credit was rightfully taken and should not be denied. Stay was approved, with the appeal set for hearing on 11th February 2005.

---

---

The Appellate Tribunal CESTAT, New Delhi allowed the stay application in a case regarding denial of Modvat credit and imposition of penalty. The appellant's credit was originally taken based on the specified copy of Bill of Entry, which was later lost while claiming DEPB benefit. The appellant's submission was that the credit was taken according to the rules and should not have been denied. Stay granted, appeal scheduled for hearing on 11th February 2005.

---