Successor Liability: M/s Vampex Responsible for Duty on Imported Textile Machinery u/s 142 of Act No. 23 of 2004.

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....Demand of Duty – Textile Machinery imported - Liability to pay duty arises from bond executed by assessee with Department obliging to abide by the conditions in Notification - Section 142 inserted by Act No. 23 of 2004 holds that successor of defaulter would also be held liable; M/s Vampex are also liable to pay the dues - AT....