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2017 (5) TMI 36 - AT - Central ExcisePenalty u/s 11AC - Valuation - transportation cost from factory to depot - includibility - Held that: - the short payment occurred when the unit was run by M/s Standard Electricals Ltd., which was later taken over by M/s Havells India Ltd. - it is clear that M/s Standard Electricals Ltd. as a juristic person/legal entity stood dissolved, upon the scheme approved by the Hon'ble Delhi High Court coming into effect. The dissolution of the company puts an end to the existence of the company. The Central Excise duty liability is linked to the goods manufactured and cleared. The penalty is on person-juristic or natural - the case is returned back to the referral Bench for a decision on merits - matter on remand.
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