https://www.taxtmi.com/caselaws?id=261306 The High Court upheld the Tribunal's decision, ruling that leasing the power plant did not constitute removal of capital goods as per Rule 3 (5) of the Cenvat Credit Rules, 2004. The Court agreed that the power plant remained integral to the factory, making the inputs and capital goods eligible for credit. Additionally, the Court found no grounds for imposing a penalty under Section 11AC of the Central Excise Act, 1944, as the assessee had not suppressed any facts and believed they were entitled to the credit. The appeals were dismissed, affirming the Tribunal's findings. en-us Thu, 04 Jun 2015 00:00:00 +0530 Sat, 10 Oct 2015 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261306 The High Court upheld the Tribunal's decision, ruling that leasing the power plant did not constitute removal of capital goods as per Rule 3 (5) of the Cenvat Credit Rules, 2004. The Court agreed that the power plant remained integral to the factory, making the inputs and capital goods eligible for credit. Additionally, the Court found no grounds for imposing a penalty under Section 11AC of the Central Excise Act, 1944, as the assessee had not suppressed any facts and believed they were entitled to the credit. The appeals were dismissed, affirming the Tribunal's findings. Case-Laws Central Excise Thu, 04 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261306