Recovery of duty under Section 11 of the Central Excise Act, ...

Section 11: Duty Recovery Not Enforceable from Asset Purchasers if Only Assets, Not Business, Transferred.

November 4, 2015

Case Laws Central Excise HC

Recovery of duty under Section 11 of the Central Excise Act, 1944 from the Purchase of asset - charge on the property of the defaulting company / seller - what has been transferred are the assets of the defaulting unit and not the business or trade - recovery cannot be made - HC

View Source

← Previous Next →

Recovery of duty under Section 11 of the Central Excise Act, ...

Section 11: Duty Recovery Not Enforceable from Asset Purchasers if Only Assets, Not Business, Transferred.

November 4, 2015

Case Laws Central Excise HC

You may also like:

Capital gains v/s business income - The assessee did not hold the capital asset. He did not transfer the capital asset, he only facilitated the transfer of capital...

Revision u/s 263 - if the transfer of asset is to be assessed under the head `income from business’ necessarily, the provisions of section 43CA would have application...

Disallowance of set off of brought forward loss from transfer of short-term capital asset against gains arising from transfer of long-term capital asset - provisions of...

Denial of deduction/exemption under section 54EC - advance received in specified assets before the date of transfer of asset - the Board have decided that if the...

Right of the auction purchaser of the property - Right of the Defaulter of Loan / Borrowers to redeem the secured property - in accordance with the unamended Section...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Classification of supply - transfer of business by the Airport Authority of India to the M/s. Adani Lucknow International Airport Limited - supply as going concern or...

Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the...

Assessing Officer's findings regarding accumulated unspent funds u/s 11 were set aside due to lack of audited financial statements and return of income for relevant year....

Transfer of property / assets - with the merger of property also vested with the petitioner along with other assets of Sharpedge. This clearly amounted to transfer of...

Recovery of Excise dues from erstwhile owner - the movable and immovable assets purchased by auction purchaser/petitioner - recovery cannot be made from purchaser of the...

Taxability of capital gain arising from sale of property - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee...

Exemption u/s 11 - assessee has not shown that the amount kept in fixed deposits have been allocated to or earmarked for a charitable purpose - Section 11(1A) is...

Taxation of Virtual Digital Assets – As per Section 115BBH @30% is leviable on Income on transfer of ‘Virtual Digital Asset’ - Under section 194S @1% TDS to be deducted...

Correct head of income - treatment of profit on transfer of immovable properties - The assignment of debt in favour of another entity partly in exchange of land was...

Quick Updates: