https://www.taxtmi.com/caselaws?id=53625 The Appellate Tribunal CESTAT, Mumbai granted waiver of pre-deposit of duty and stay recovery in a case involving Modvat credit on destroyed capital goods and inputs. The Tribunal found that there was no requirement to reverse credit on goods destroyed in a fire, aligning with a previous favorable decision. It concluded that the demand for credit reversal was not supported by Modvat provisions, leading to a strong prima facie case for the applicants. The department was restrained from taking coercive action to recover the disputed amounts, emphasizing adherence to relevant rules and precedents in determining the assessee's obligations. en-us Thu, 16 Dec 2004 00:00:00 +0530 Thu, 14 Oct 2010 12:56:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53625 The Appellate Tribunal CESTAT, Mumbai granted waiver of pre-deposit of duty and stay recovery in a case involving Modvat credit on destroyed capital goods and inputs. The Tribunal found that there was no requirement to reverse credit on goods destroyed in a fire, aligning with a previous favorable decision. It concluded that the demand for credit reversal was not supported by Modvat provisions, leading to a strong prima facie case for the applicants. The department was restrained from taking coercive action to recover the disputed amounts, emphasizing adherence to relevant rules and precedents in determining the assessee's obligations. Case-Laws Central Excise Thu, 16 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53625