https://www.taxtmi.com/caselaws?id=1832 Balance Cenvat credit on capital goods in the succeeding year is available only if the statutory condition of continued possession and use is satisfied; where the fixtures had been removed and were no longer available, the credit was disallowed. The demand was sustained because the assessee's returns and records did not amount to a separate disclosure capable of negating wrongful availment, while the penalty was held excessive and reduced to a token amount. en-us Fri, 16 Mar 2007 00:00:00 +0530 Tue, 15 Apr 2008 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1832 Balance Cenvat credit on capital goods in the succeeding year is available only if the statutory condition of continued possession and use is satisfied; where the fixtures had been removed and were no longer available, the credit was disallowed. The demand was sustained because the assessee's returns and records did not amount to a separate disclosure capable of negating wrongful availment, while the penalty was held excessive and reduced to a token amount. Case-Laws Central Excise Fri, 16 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1832