https://www.taxtmi.com/caselaws?id=2861 Modvat/Cenvat credit on imported capital goods for a captive power plant was allowed because the turbine components were received in the factory and the record, including declarations, panchanamas and related purchases, supported intended installation. Denial of credit based on an inferred lack of intent to install was rejected as speculative, and Rule 57Q(7) of the Central Excise Rules, 1944 was applied to confirm entitlement to credit on capital goods/components lying in the factory. The associated demand, penalty, interest and confiscation were therefore unsustainable. en-us Wed, 17 Oct 2007 00:00:00 +0530 Wed, 16 Apr 2008 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2861 Modvat/Cenvat credit on imported capital goods for a captive power plant was allowed because the turbine components were received in the factory and the record, including declarations, panchanamas and related purchases, supported intended installation. Denial of credit based on an inferred lack of intent to install was rejected as speculative, and Rule 57Q(7) of the Central Excise Rules, 1944 was applied to confirm entitlement to credit on capital goods/components lying in the factory. The associated demand, penalty, interest and confiscation were therefore unsustainable. Case-Laws Customs Wed, 17 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2861