STANDARD INDUSTRIES LTD. Vs. COMMISSIONER OF CENTRAL EXCISE

JUDGEMENT

(1.) Both sides heard in the stay application.

(2.) The issue involved is levy of interest under Rule 49A(1)(b) and penalty. Duty stands paid.

(3.) Since the appellants submit that they have not applied and had no permission granted by the Commissioner under Rule 49A, the levy of interest, fine and penalty prima facie is therefore not called for. Pre -deposit requirements under Section 35F of the Central Excise Act, 1944, therefore, are waived in full and recovery thereof stayed.