https://www.taxtmi.com/caselaws?id=203742 The court held that the petitioner, as the purchaser of properties of a sick company through amalgamation, was not liable to pay arrears of excise duty and penalty owed by the sick company under the proviso to Section 11 of the Central Excise Act, 1944. The court emphasized that liability arises only when there is a transfer of the business or trade resulting in a change of ownership, not just the acquisition of assets. As the petitioner did not acquire the business or trade of the sick company, the demand for payment was set aside, and the Writ Petition was allowed with no costs. en-us Wed, 01 Dec 2010 00:00:00 +0530 Fri, 19 Aug 2011 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203742 The court held that the petitioner, as the purchaser of properties of a sick company through amalgamation, was not liable to pay arrears of excise duty and penalty owed by the sick company under the proviso to Section 11 of the Central Excise Act, 1944. The court emphasized that liability arises only when there is a transfer of the business or trade resulting in a change of ownership, not just the acquisition of assets. As the petitioner did not acquire the business or trade of the sick company, the demand for payment was set aside, and the Writ Petition was allowed with no costs. Case-Laws Central Excise Wed, 01 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203742