2010 (2) TMI 402

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.... short) in an auction conducted by the Debts Recovery Tribunal. The Debts Recovery Tribunal had taken over the property of SQCL and others towards unpaid loans taken from the Industrial Development Bank of India. The appellant M/s. Shri Keshav Cements and Infra Ltd. (formerly known as M/s. Katwa Udyog Ltd.) has purchased the properties owned by SQCL. They applied for registration as an assessee under the Central Excise Act, 1944(the Act) which was allowed. The appellant was forced to pay the amount of Rs. 5,13,852/- to the Department before they were registered under the Central Excise as an assessee. Subsequently, they sought refund of the said amount. The lower authorities denied the refund on the ground that the arrears owed to the Depar....

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.... part, or effects any change in the ownership thereof, in consequence of which he is succeeded in such business or trade by any other person, all excisable goods, materials, preparations, plants, machineries, vessels, utensils, implements and articles in the custody or possession of the person so succeeding may also be attached and sold by such officer empowered by the Central Board of Excise and Customs, after obtaining written approval from the Commissioner of Central Excise, for the purposes of recovering such duty or other sums recoverable or due from such predecessor at the time of such transfer or otherwise disposal or change." 4. The Commissioner (Appeals) held that by taking over the property of SQCL and selling it in auction, the ....