https://www.taxtmi.com/caselaws?id=104463 Purchase of shares giving control of management does not, by itself, transfer ownership of a company's undertaking or mill. The agreement and surrounding facts showed a change in management rather than a sale of the undertaking or its assets, and the company continued as a separate legal entity from its shareholders. Because the transaction also allocated undisclosed liabilities and required payment of outstanding statutory dues, the central excise duty confirmed for goods manufactured before the change in control could still be fastened on the purchaser. The contention that the purchaser became the new owner and escaped liability was rejected. en-us Wed, 06 Dec 2000 00:00:00 +0530 Wed, 29 Feb 2012 12:06:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104463 Purchase of shares giving control of management does not, by itself, transfer ownership of a company's undertaking or mill. The agreement and surrounding facts showed a change in management rather than a sale of the undertaking or its assets, and the company continued as a separate legal entity from its shareholders. Because the transaction also allocated undisclosed liabilities and required payment of outstanding statutory dues, the central excise duty confirmed for goods manufactured before the change in control could still be fastened on the purchaser. The contention that the purchaser became the new owner and escaped liability was rejected. Case-Laws Central Excise Wed, 06 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104463