Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 889 - AT - Central ExciseRecovery of tax dues of the defaulter - Liability of the auction purchaser of the assets - Held that:- the erstwhile owner, Hans Pharmaceuticals & Chemicals, had not sold the unit directly to the appellant. It was the ‘pickup’ which auction sold the unit in exercise of their statuary power under Section 29 and 30 of the State Finance Corporation Act. Accordingly I allow the appeal and I also quash the notice dated 24/8/2004, issued by the range Superintendent, Jhansi. The appellant will be entitled to refund of the amount of ₹ 10 lakhs (Rupees Ten Lakhs) deposited under the Interim Order of the Honourable High Court. Thus the appeal is allowed with consequential benefits. - Decided in favor of appellant.
|