Court Rules: Asset Sale Doesn't Equal Business Transfer; Appellant Not Successor to Defaulter's Business.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Recovery of duty from the successor of the defaulter - Though assets were sold, sale of assets by itself would not be transfer of business in whole or in part. - appellant is not successors in business or trade of Vaishnavi - AT....