https://www.taxtmi.com/caselaws?id=33318 A transfer of a captive power unit for consideration, coupled with a long-term lease of the same premises, was treated as removal of capital goods for Central Excise purposes because the assessee lost ownership and control over the unit. Physical shifting of the machinery was not required where the arrangement effectively placed the unit in the purchaser's hands and operated as a device to avoid excise liability by relying only on continued location at the site. The HC rejected the assessee's challenge, upheld the revenue's demand, and sustained the interest and penalty consequences. en-us Thu, 13 Dec 2007 00:00:00 +0530 Mon, 04 May 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33318 A transfer of a captive power unit for consideration, coupled with a long-term lease of the same premises, was treated as removal of capital goods for Central Excise purposes because the assessee lost ownership and control over the unit. Physical shifting of the machinery was not required where the arrangement effectively placed the unit in the purchaser's hands and operated as a device to avoid excise liability by relying only on continued location at the site. The HC rejected the assessee's challenge, upheld the revenue's demand, and sustained the interest and penalty consequences. Case-Laws Central Excise Thu, 13 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33318