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<h1>Dismissal of Stay Application Over Reversed Modvat Credits Leads to Revenue Impact Appeals</h1> The stay application was dismissed as the disputed Modvat credit amounts were reversed. The appeals were admitted for hearing based on the issue's ... Appeal in Modvat cases - Admissibility The appeals were listed for admission. The disputed Modvat credit amounts were reversed, so the stay application was not pressed. The stay application was dismissed. The appeals were admitted for hearing due to the recurring revenue effect of the issue.