https://www.taxtmi.com/caselaws?id=218590 The appeals challenging CESTAT's decision holding GTC Industries Ltd. liable for activities of KCPL and JKCL were dismissed due to non-compliance with the Supreme Court's order to pre-deposit excise duty. The Court emphasized that ownership of goods is irrelevant for levy purposes and highlighted GTC Industries Ltd.'s control over KCPL and JKCL. Despite depositing the penalty, the principal sum of Rs.3.85 crores remained unpaid, leading to the dismissal of the appeals. The judgment settled the liability dispute and interpretation of CESTAT's findings on corporate veil piercing in favor of the Revenue. en-us Thu, 18 Oct 2012 00:00:00 +0530 Tue, 20 Nov 2012 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218590 The appeals challenging CESTAT's decision holding GTC Industries Ltd. liable for activities of KCPL and JKCL were dismissed due to non-compliance with the Supreme Court's order to pre-deposit excise duty. The Court emphasized that ownership of goods is irrelevant for levy purposes and highlighted GTC Industries Ltd.'s control over KCPL and JKCL. Despite depositing the penalty, the principal sum of Rs.3.85 crores remained unpaid, leading to the dismissal of the appeals. The judgment settled the liability dispute and interpretation of CESTAT's findings on corporate veil piercing in favor of the Revenue. Case-Laws Central Excise Thu, 18 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218590