https://www.taxtmi.com/news?id=792 A successor company is a distinct legal entity and Section 11 of the Central Excise Act permits adjustment only when the same person is both liable and payable; therefore dues of a predecessor cannot be recovered from amounts payable to the successor. In liquidation-related asset sales, proceeds should be deposited and the Official Liquidator will adjudicate claims, with the excise department entitled to file a claim for determination under law. en-us Mon, 13 Apr 2009 08:05:03 +0530 Mon, 13 Apr 2009 08:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=792 A successor company is a distinct legal entity and Section 11 of the Central Excise Act permits adjustment only when the same person is both liable and payable; therefore dues of a predecessor cannot be recovered from amounts payable to the successor. In liquidation-related asset sales, proceeds should be deposited and the Official Liquidator will adjudicate claims, with the excise department entitled to file a claim for determination under law. News - Mon, 13 Apr 2009 08:05:03 +0530 https://www.taxtmi.com/news?id=792