2012 (1) TMI 112

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Negi, AR, for the Respondent. ORDER There were two demands against M/s. Vaishnavi Dyeing & Printing Mills Pvt. Limited confirmed during the years 2000-01. No appeal was filed and the order became final. Subsequently the assets were taken over by M/s. Gujarat Industrial Investment Corporation Limited (GIIC for short), and who transferred it to M/s. Sachin Dyg. & Ptg. Mills on the basis of cer....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....urity for the loan and the submits that it cannot be said that the appellant is successor or transferee from M/s. Vaishnavi Dyeing & Printing Mills Pvt. Limited at all. 3. The issue is complex. The Commissioner (Appeals) in his order has relied upon the State Financial Corporation Act, 1951. Further the appellant has relied upon the decision of the Hon'ble Supreme Court and decision of the....