https://www.taxtmi.com/caselaws?id=379782 Excise dues could not be recovered from an auction purchaser of a defaulting unit's movable and immovable assets sold by a secured creditor under the Securitization Act, because the sale was not of the running business, the dues were neither attached nor crystallised before the auction, and the sale papers disclosed no excise encumbrance. Section 11E of the Central Excise Act was subject to the Securitization Act's overriding priority scheme, Section 37 did not alter that position, and the later Section 26E amendment was inapplicable. The recovery communications were therefore liable to be quashed and amounts already recovered refunded. en-us Fri, 26 Apr 2019 00:00:00 +0530 Tue, 12 Nov 2019 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379782 Excise dues could not be recovered from an auction purchaser of a defaulting unit's movable and immovable assets sold by a secured creditor under the Securitization Act, because the sale was not of the running business, the dues were neither attached nor crystallised before the auction, and the sale papers disclosed no excise encumbrance. Section 11E of the Central Excise Act was subject to the Securitization Act's overriding priority scheme, Section 37 did not alter that position, and the later Section 26E amendment was inapplicable. The recovery communications were therefore liable to be quashed and amounts already recovered refunded. Case-Laws Central Excise Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379782