https://www.taxtmi.com/caselaws?id=112112 An intermediate transmission assembly arising during tractor manufacture is treated as excisable central excise goods if it has a distinct commercial identity and is capable of being bought and sold; actual open-market sale is not required. Where such captive production is not properly disclosed, the extended limitation period may be invoked for duty demand. Once duty is held payable, Modvat credit and revenue-neutral adjustment may remain relevant, but the exact set-off requires factual recomputation. Penalty on employee-officials is not sustainable where they are not the principal duty-bearing entity, while the company-level penalty question may remain open. en-us Thu, 27 May 2004 00:00:00 +0530 Thu, 26 Apr 2012 16:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112112 An intermediate transmission assembly arising during tractor manufacture is treated as excisable central excise goods if it has a distinct commercial identity and is capable of being bought and sold; actual open-market sale is not required. Where such captive production is not properly disclosed, the extended limitation period may be invoked for duty demand. Once duty is held payable, Modvat credit and revenue-neutral adjustment may remain relevant, but the exact set-off requires factual recomputation. Penalty on employee-officials is not sustainable where they are not the principal duty-bearing entity, while the company-level penalty question may remain open. Case-Laws Central Excise Thu, 27 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112112