1997 (9) TMI 215

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....DR, for the Respondent. [Order].  In this stay application, the applicant is seeking waiver of pre-deposit of Rs. 60,339.12 and penalty amount of Rs. 25,000/-. Initially by show cause notice, the department had intended to deny the Modvat credit of Rs. 3,97,168.76. However, the Assistant Commissioner allowed the Modvat credit of Rs. 2,33,970.76 in respect of Challans appearing at Sl. No....

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.... at 15% on the said quantum of the input. This was accompanied by a certificate issued by Tata Iron & Steel Co. in favour of the appellants. The delivery note has addressed to the appellants' name G.T. Road, Jalandhar, while the word "cantt" has not mentioned for that simple reason both the authorities disallowed the credit doubting the authenticity of the documents and has also imposed the penalt....