https://www.taxtmi.com/caselaws?id=354855 Mere purchase of a defaulting unit's assets in auction does not make the buyer liable for the former owner's Central Excise dues. The auction purchaser had acquired only assets from a State financial corporation and had not taken over the business as a going concern or the ownership of the business, so successor liability was not attracted. The Tribunal also applied the principle that dues do not have priority over secured creditors' claims in this context. Recovery of the predecessor's excise dues from the auction purchaser was therefore unsustainable and was set aside. en-us Fri, 29 Dec 2017 00:00:00 +0530 Tue, 13 Feb 2018 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354855 Mere purchase of a defaulting unit's assets in auction does not make the buyer liable for the former owner's Central Excise dues. The auction purchaser had acquired only assets from a State financial corporation and had not taken over the business as a going concern or the ownership of the business, so successor liability was not attracted. The Tribunal also applied the principle that dues do not have priority over secured creditors' claims in this context. Recovery of the predecessor's excise dues from the auction purchaser was therefore unsustainable and was set aside. Case-Laws Central Excise Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354855