https://www.taxtmi.com/caselaws?id=263209 The Court ruled in favor of the petitioner in a case concerning the liability for central excise dues of a Corporation after the petitioner purchased its assets under a winding up order. The Court held that since the petitioner acquired only the assets and not the running business of the Corporation, they cannot be held accountable for the central excise dues under Section 11 of the Central Excise Act. The Court emphasized that the petitioner purchased the assets free from encumbrances and did not inherit the liabilities of the Corporation, ultimately quashing the notice demanding payment of central excise dues. en-us Mon, 17 Aug 2015 00:00:00 +0530 Mon, 04 Jan 2016 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263209 The Court ruled in favor of the petitioner in a case concerning the liability for central excise dues of a Corporation after the petitioner purchased its assets under a winding up order. The Court held that since the petitioner acquired only the assets and not the running business of the Corporation, they cannot be held accountable for the central excise dues under Section 11 of the Central Excise Act. The Court emphasized that the petitioner purchased the assets free from encumbrances and did not inherit the liabilities of the Corporation, ultimately quashing the notice demanding payment of central excise dues. Case-Laws Central Excise Mon, 17 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263209