Modvat credit on challan-cum-invoice supported interim stay and waiver of pre-deposit pending appeal.

Interim stay was granted and pre-deposit waived in a Modvat credit dispute where credit was claimed on the basis of a challan-cum-invoice and related endorsements. The tribunal considered the documents produced, including the SAIL-issued challan-cum-invoice, and noted that the appellant's status as a wholesale distributor or dealer could be verified from the record. As the Department did not seriously oppose stay at that stage, the amount in question was waived pending disposal of the appeal.

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Issues: Whether interim stay should be granted and pre-deposit waived in a dispute concerning Modvat credit based on the documents produced, including a challan-cum-invoice and related endorsements.

Analysis: The application concerned the availability of Modvat credit on the strength of the documents furnished. The challan-cum-invoice issued by SAIL and the endorsement thereon were taken into account, along with the possibility of verifying whether the appellant had been treated as a wholesale distributor or dealer by SAIL. The Department did not seriously oppose grant of stay at that stage.

Outcome: Stay granted and pre-deposit of the amount in question waived during the pendency of the appeal.

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