https://www.taxtmi.com/caselaws?id=330291 Excise dues of an erstwhile owner could not be recovered from a purchaser who acquired only the assets through a statutory sale by a State Finance Corporation, because the purchaser did not step into the seller's shoes for those liabilities. Rule 230 of the Central Excise Rules, 1944 applied to transfer by the person carrying on the business and did not cover a sale by a statutory corporation free from encumbrances. The demand notice lacked legal basis and was quashed, with the amount deposited under interim directions made refundable with interest according to the rules. en-us Tue, 08 Mar 2016 00:00:00 +0530 Fri, 10 Feb 2017 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330291 Excise dues of an erstwhile owner could not be recovered from a purchaser who acquired only the assets through a statutory sale by a State Finance Corporation, because the purchaser did not step into the seller's shoes for those liabilities. Rule 230 of the Central Excise Rules, 1944 applied to transfer by the person carrying on the business and did not cover a sale by a statutory corporation free from encumbrances. The demand notice lacked legal basis and was quashed, with the amount deposited under interim directions made refundable with interest according to the rules. Case-Laws Central Excise Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330291