https://www.taxtmi.com/caselaws?id=350884 Wrong availment of Modvat credit on capital goods allegedly shifted to a sister concern without intimation justified recovery with interest and invocation of the extended limitation period, because the assessee failed to produce corroborative evidence of repair, transfer records, installation details, or disclosure to the department. Confiscation of the capital goods and plant and machinery was not sustainable, since duty-paid goods do not become confiscable merely because credit was irregularly taken. The penalty on the assessee was sustained, while the penalties on the sister concern and the director were reduced as excessive on the facts. en-us Tue, 31 Oct 2017 00:00:00 +0530 Sat, 02 Dec 2017 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350884 Wrong availment of Modvat credit on capital goods allegedly shifted to a sister concern without intimation justified recovery with interest and invocation of the extended limitation period, because the assessee failed to produce corroborative evidence of repair, transfer records, installation details, or disclosure to the department. Confiscation of the capital goods and plant and machinery was not sustainable, since duty-paid goods do not become confiscable merely because credit was irregularly taken. The penalty on the assessee was sustained, while the penalties on the sister concern and the director were reduced as excessive on the facts. Case-Laws Central Excise Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350884