https://www.taxtmi.com/caselaws?id=51624 Successor excise liability attaches where a private limited company inherits the predecessor proprietary concern's rights and liabilities, so it can be assessed for duty on pre-incorporation clearances. The assessable value and SSI exemption claims were not finally decided because the record required factual verification and re-quantification after hearing, so those issues were remanded. Interest was sustained only for the period when the provision operated, while the composite penalty on the company was set aside for fresh decision because liability was not separately quantified under the relevant provisions. Personal penalties on the directors were quashed for want of the necessary confiscation-related findings. en-us Wed, 18 Dec 2002 00:00:00 +0530 Mon, 27 Sep 2010 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51624 Successor excise liability attaches where a private limited company inherits the predecessor proprietary concern's rights and liabilities, so it can be assessed for duty on pre-incorporation clearances. The assessable value and SSI exemption claims were not finally decided because the record required factual verification and re-quantification after hearing, so those issues were remanded. Interest was sustained only for the period when the provision operated, while the composite penalty on the company was set aside for fresh decision because liability was not separately quantified under the relevant provisions. Personal penalties on the directors were quashed for want of the necessary confiscation-related findings. Case-Laws Central Excise Wed, 18 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51624