Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Bill 2011: Section 11E gives excise duty first charge over assessee's property, superseding most other claims.</h1> Clause 63 of the Finance Bill, 2011 proposes the insertion of section 11E into the Central Excise Act, establishing that any duty, penalty, interest, or sum payable under this Act will be the first charge on the property of the assessee or liable person. This provision takes precedence over other Central or State Acts, except for specific exceptions outlined in section 529A of the Companies Act, the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
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