2012 (6) TMI 171

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....: Mr. M.V. Ravindaran;   This stay petition is filed for the waiver of pre-deposit of amount of penalty imposed by the adjudicating authority and upheld by the first appellate authority.   2. After hearing both the sides for some time on the stay petition, I find that the appeal itself can be disposed of as the issue lies in a very narrow compass. Accordingly, I allow the applicati....

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....xempted goods. The case of the appellant before the lower authorities was that he has already reversed the proportionate cenvat credit with interest attributable to the exempted goods cleared from the factory premises. Lower authorities did not accept this contention and confirmed the demand of amount equivalent to 8% or 10% of the value of exempted goods.   5. I find that the issue is no ....