High Court Rules Asset Buyer Not Liable for Corporation's Past Excise Dues Under Winding-Up Order.

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....Recovery of excise duty - since the petitioner had only purchased the assets of the Corporation in pursuance of the winding up order passed by the High Court and had not taken over a running business of the Corporation, the liability of past central excise dues payable by the Corporation cannot be fastened nor recovered from the petitioner - HC....