https://www.taxtmi.com/caselaws?id=122197 Transfer of a captive power plant to a subsidiary, undertaken as business restructuring and by assignment rather than true sale, did not require reversal of capital goods credit. The rotor continued to function as part of an integrated captive arrangement supplying the steel mill, so its use remained linked to the manufacturing unit. Capital goods credit also could not be denied merely because the rotor was situated outside the mill premises after restructuring. On that basis, the duty demand, confiscation and penalty were unsustainable and consequential relief followed. en-us Thu, 11 Jan 2007 00:00:00 +0530 Wed, 07 Feb 2024 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122197 Transfer of a captive power plant to a subsidiary, undertaken as business restructuring and by assignment rather than true sale, did not require reversal of capital goods credit. The rotor continued to function as part of an integrated captive arrangement supplying the steel mill, so its use remained linked to the manufacturing unit. Capital goods credit also could not be denied merely because the rotor was situated outside the mill premises after restructuring. On that basis, the duty demand, confiscation and penalty were unsustainable and consequential relief followed. Case-Laws Central Excise Thu, 11 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122197