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of <h1>Section 11E of Central Excise Act: Duty and penalties take priority over other claims on assessee's property, with some exceptions.</h1> Section 11E of the Central Excise Act, 1944 establishes that any duty, penalty, interest, or sum payable under this Act or its rules is the first charge on the property of the assessee or liable person. This priority is maintained over other claims, except as provided in Section 529A of the Companies Act, 1956, the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and the Insolvency and Bankruptcy Code, 2016. This provision was inserted by the Finance Act, 2011.
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