https://www.taxtmi.com/caselaws?id=46709 An auction purchaser of a unit sold under the State Financial Corporation Act remained liable for excise dues recoverable under Rule 230(2) because the statutory recovery mechanism could attach to the transferred assets and no conflict displaced that liability. The purchaser took the property subject to the predecessor's excise burden, so recovery of the dues was upheld. However, the penalty component imposed in adjudication against the predecessor could not be enforced against the purchaser because it was not a party to those proceedings and had no opportunity to contest the levy. The penalty was therefore set aside for the purchaser and ordered to be refunded if paid. en-us Tue, 11 Nov 2003 00:00:00 +0530 Fri, 30 Dec 2022 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46709 An auction purchaser of a unit sold under the State Financial Corporation Act remained liable for excise dues recoverable under Rule 230(2) because the statutory recovery mechanism could attach to the transferred assets and no conflict displaced that liability. The purchaser took the property subject to the predecessor's excise burden, so recovery of the dues was upheld. However, the penalty component imposed in adjudication against the predecessor could not be enforced against the purchaser because it was not a party to those proceedings and had no opportunity to contest the levy. The penalty was therefore set aside for the purchaser and ordered to be refunded if paid. Case-Laws Central Excise Tue, 11 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46709