https://www.taxtmi.com/caselaws?id=53037 Capital goods on which Modvat credit had been taken were treated as removed from the factory when the premises were leased to another independent manufacturer, making duty recoverable under the capital-goods utilisation rules; the duty and interest demand against the first appellant was upheld. Suppression was found because the continued presence of the credit-availed goods in leased premises was not disclosed, so the extended period of limitation applied, but the penalty on the first appellant was reduced as excessive. No conscious dealing with goods liable to confiscation was proved against the second appellant, so the penalty on that appellant was set aside. en-us Thu, 24 Jun 2004 00:00:00 +0530 Thu, 13 Jun 2024 19:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53037 Capital goods on which Modvat credit had been taken were treated as removed from the factory when the premises were leased to another independent manufacturer, making duty recoverable under the capital-goods utilisation rules; the duty and interest demand against the first appellant was upheld. Suppression was found because the continued presence of the credit-availed goods in leased premises was not disclosed, so the extended period of limitation applied, but the penalty on the first appellant was reduced as excessive. No conscious dealing with goods liable to confiscation was proved against the second appellant, so the penalty on that appellant was set aside. Case-Laws Central Excise Thu, 24 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53037