https://www.taxtmi.com/caselaws?id=89137 Prima facie, waiver of deposit and stay of recovery were considered justified where penalties arose from alleged wrongful utilisation of Modvat credit on inputs used in goods cleared without duty, and the credit had already been reversed. The notice was issued long after the period of utilisation, supporting the view that the limitation principle under Section 11A could apply by analogy to Rule 57-I(4) in this pre-insertion context. The personal penalty under Rule 209A was treated as arguable, and these factors led to waiver of penalty deposit and stay of recovery in favour of the assessee. en-us Thu, 30 Jul 1998 00:00:00 +0530 Fri, 23 Sep 2011 16:31:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89137 Prima facie, waiver of deposit and stay of recovery were considered justified where penalties arose from alleged wrongful utilisation of Modvat credit on inputs used in goods cleared without duty, and the credit had already been reversed. The notice was issued long after the period of utilisation, supporting the view that the limitation principle under Section 11A could apply by analogy to Rule 57-I(4) in this pre-insertion context. The personal penalty under Rule 209A was treated as arguable, and these factors led to waiver of penalty deposit and stay of recovery in favour of the assessee. Case-Laws Central Excise Thu, 30 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89137