https://www.taxtmi.com/caselaws?id=108482 Capital goods obtained on lease do not qualify for Modvat credit under Rule 57R(3), so a claim based on leased procurement was treated as weak on merits. Non-disclosure of the lease arrangement to the Revenue also undermined the limitation objection and supported invocation of the extended period. On those facts, no prima facie case was found for unconditional waiver of pre-deposit, and full stay relief was refused. Partial relief was nevertheless granted by requiring deposit of a reduced amount while staying recovery of the balance duty and the entire penalty during the appeal. en-us Thu, 24 Apr 2003 00:00:00 +0530 Sat, 31 Mar 2012 17:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108482 Capital goods obtained on lease do not qualify for Modvat credit under Rule 57R(3), so a claim based on leased procurement was treated as weak on merits. Non-disclosure of the lease arrangement to the Revenue also undermined the limitation objection and supported invocation of the extended period. On those facts, no prima facie case was found for unconditional waiver of pre-deposit, and full stay relief was refused. Partial relief was nevertheless granted by requiring deposit of a reduced amount while staying recovery of the balance duty and the entire penalty during the appeal. Case-Laws Central Excise Thu, 24 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108482