https://www.taxtmi.com/caselaws?id=256136 Section 11E of the Central Excise Act, 1944 creates a statutory first charge over the assessee's property for excise duty, penalty, interest and related sums, subject to specified exceptions. That fiscal charge prevails over the general protection available under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, so recovery of central excise dues is not barred by sick-company proceedings. The provision was also treated as declaratory and therefore retroactive, making it applicable to outstanding excise dues even if the underlying demand arose before its insertion. The commentary concludes that the excise recovery claim has priority over the sick industrial company protection. en-us Fri, 16 Jan 2015 00:00:00 +0530 Thu, 07 Jan 2016 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256136 Section 11E of the Central Excise Act, 1944 creates a statutory first charge over the assessee's property for excise duty, penalty, interest and related sums, subject to specified exceptions. That fiscal charge prevails over the general protection available under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, so recovery of central excise dues is not barred by sick-company proceedings. The provision was also treated as declaratory and therefore retroactive, making it applicable to outstanding excise dues even if the underlying demand arose before its insertion. The commentary concludes that the excise recovery claim has priority over the sick industrial company protection. Case-Laws Central Excise Fri, 16 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256136