https://www.taxtmi.com/caselaws?id=220618 A change in ownership of an industrial unit does not, by itself, end an existing area-based excise exemption under Notification No. 50/2003-CE. The operative requirement, as clarified, is that the new owner must exercise the option in writing before the first clearance from the unit. If that procedural condition is met, the remaining exemption period may continue despite the slump sale and change in management. The discussion also notes that a filed declaration and intimation were relied on as evidence of compliance with the written-option requirement. en-us Mon, 23 Jul 2012 00:00:00 +0530 Fri, 07 Feb 2014 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220618 A change in ownership of an industrial unit does not, by itself, end an existing area-based excise exemption under Notification No. 50/2003-CE. The operative requirement, as clarified, is that the new owner must exercise the option in writing before the first clearance from the unit. If that procedural condition is met, the remaining exemption period may continue despite the slump sale and change in management. The discussion also notes that a filed declaration and intimation were relied on as evidence of compliance with the written-option requirement. Case-Laws Central Excise Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220618