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<h1>Waiver of Pre-deposit and Penalty Granted for Delayed Modvat Credit Claim</h1> The Appellate Tribunal CEGAT, New Delhi granted waiver of pre-deposit of duty amounting to Rs. 53,092/- and penalty of Rs. 5,000/- in a case where Modvat ... Waiver of pre-deposit - MODVAT credit on capital goods - condonation of delay in filing declaration - balance of convenience - reliance on Board circulars regarding declaration timingWaiver of pre-deposit - MODVAT credit on capital goods - condonation of delay in filing declaration - balance of convenience - reliance on Board circulars regarding declaration timing - Pre-deposit of disputed duty and penalty waived for admission and hearing of the appeal despite declaration in respect of capital goods being filed after receipt. - HELD THAT: - The Tribunal noted that the declaration for capital goods was admittedly filed after receipt of the goods, that the unit's registration was effected on 19-3-1996 and the declaration was filed on 25-3-1996. The applicants sought condonation of the delay and relied on Board circulars dated 26-12-1994 and 7-3-1996 which state that credit should not be denied merely because the declaration was filed after receipt, provided a proper declaration is filed before taking credit. Having considered the submissions and the Board's clarifications, the Tribunal found that, prima facie, the balance of convenience favoured the applicants and therefore it was appropriate to permit the appeal to be heard without insisting on the pre-deposit of the duty and penalty. [Paras 6]Pre-deposit of the duty and penalty waived for hearing of the appeal; matter listed for arguments on 8-1-2001.Final Conclusion: The application for waiver of pre-deposit of the disputed duty and penalty was allowed on prima facie consideration and in view of Board circulars; the appeal was admitted for hearing without requiring the pre-deposit. The Appellate Tribunal CEGAT, New Delhi granted waiver of pre-deposit of duty amounting to Rs. 53,092/- and penalty of Rs. 5,000/- in a case where Modvat credit on capital goods was denied due to delayed filing of declaration. The applicants' request for condonation of delay was supported by circulars from the Board, leading to the waiver. The appeal hearing was scheduled for 8-1-2001.
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