2011 (1) TMI 1335 - SCH - Central Excise

Admissibility of credit on capital goods (power unit) which have been sold but not removed from premises - transactions of sale of power unit and simultaneous lease of premises are wisely resorted to by the assessee as a device to avoid the tax liability on it - said purchaser after purchasing the power unit from the assessee has been enjoying the same as its absolute owner and has been supplying to the assessee the power generated from the said power unit on payment basis.

Summary

The Supreme Court condoned the delay in complying with its directions from an order dated April 9, 2009. The appeal was admitted, and the hearing was expedited. An interim order from April 9, 2009, was made absolute until the appeal's disposal.