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of <h1>CESTAT grants stay, waives pre-deposit & penalty recovery pending appeal. Applicant not liable for predecessor's debts.</h1> <h3>EKLINGJI FINANCE PVT. LTD. Versus COMMISSIONER OF C. EX., JAIPUR</h3> EKLINGJI FINANCE PVT. LTD. Versus COMMISSIONER OF C. EX., JAIPUR - 2009 (246) E.L.T. 585 (Tri. - Del.) The Appellate Tribunal CESTAT, New Delhi heard a stay petition regarding the recovery of penalty from an applicant who purchased assets from a company with confirmed duty and penalty. The applicant argued they did not take over the liability of the previous company and paid the arrears. The Tribunal found merit in the argument and waived the pre-deposit of dues, staying the recovery of penalty until the appeal is disposed of.
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