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of <h1>CESTAT Mumbai: Waiver of Predeposit & Stayed Recovery; Vice-President's Penalty Upheld, Appeal for Fresh Decision</h1> <h3>Viraat Ispat Ltd. Versus Commissioner Of Central Excise</h3> The Appellate Tribunal CESTAT MUMBAI waived the predeposit of the balance penalty and stayed recovery. The duty demand and penalty imposed on the ... - The Appellate Tribunal CESTAT MUMBAI waived predeposit of balance penalty of Rs. 5,15,100/- and stayed recovery. The duty demand of Rs. 5,75,100/- wrongly availed as Modvat Credit was confirmed, along with a penalty imposed on the Vice-President of the Company. The appeal was allowed by remand for a fresh decision by the Commissioner (Appeals).
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