Sandvik Milling
April 4th, 2011
Section 11E – A Welcome Step
SECTION 11E – A WELCOME STEP
Prepared By:
CA Pradeep Jain,
CA Preeti Parihar
Jitesh Bhandari
In the Budget 2011-12 introduced on 28.2.2011, a New Section 11E has been inserted in the Central Excise Act, 1944. This section is inserted to create a first charge on the property of a defaulter for recovery of Central Excise dues subject to the provisions of Companies Act, 1956; Recovery of Debts due to bank and Financial Institutions Act, 1993 and Securitisation and Reconstruction of Financial Assets and enforcement of Security interest Act, 2002. This signifies that the dues under the Central Excise Act shall have a first charge in respect of the dues of other acts as mentioned above.
A case was decided in the Supreme Court of MACSON MARBLES PVT LTD Versus UNION OF INDIA [2003 (158) E.L.T 424 (S.C.)] wherein the appellant purchased an Industrial Unit in an Auction from Rajasthan Financial Corporation. A show cause notice was issued to the assessee for payment of Excise Duty and Penalty on the grounds of removal of certain goods from that unit before the date of purchase by the appellant. A writ petition was filed in the High Court challenging the recovery proceedings initiated by the Department. The High Court dismissed the Writ Petition and ordered that the appellant, who is the current owner of the Unit, to pay the dues to the Department.
Further the case was taken to the Apex court wherein it was ordered that according to Rule 230(2) of erstwhile Central Excise Rules, 1944 the mode of recovery of excise dues from the assets owned by a predecessor and on his liabilities being assessed could be recovered even from the successor.
Similar decisions were quoted in decisions given by other Courts and Tribunals. Such decisions created difficulties for the successors of any Industrial unit or land as they had to pay the dues of the predecessor which would be burdensome for them.
In case of COMMISSIONER OF C. EX., AHMEDABAD-III versus SANDVIK ASIA LTD. the High Court of Gujarat gave a decision in favour of the Successor ordering the Predecessor of the land to pay his dues. Similar decisions were also given by various Decisive authorities in various cases which gave a sigh of relief.
Now, with the insertion of the Section 11E; if any amount of excise duty, interest or any other sum payable by assessee/any other person under the provisions of Central Excise Act, 1944; it will have first charge on the property of the assessee or that person. However, this charge would subject to the provisions contained in the Section 529A of the Companies Act, 1956, the recovery of Debts Due to Banks and the Financial Institutions Act, 1993 and the Securitization and Reconstruction of Financial Assets and the Enforcement of Security Interest Act, 2002. Thus, this section will save the rights of the poor successors who purchase the property under good faith and this is a Welcome Step for the benefit of the masses.
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About the Author
Sandvik Coromant CoroMill 316 exchangeable head milling system
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sandvik R216.2 inserts 19 pcs new machine shop cnc mill $95.00 |
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KNIFE, VANTAGE, AVID, SANDVIK $43.99 KNIFE, VANTAGE, AVID, SANDVIK |
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Milling $37.5 This book is in New – Excellent condition |
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Milling/Drilling Machines $3839.66 Milling/Drilling Machines |
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Milling Machines and Milling Practice $43.28 Publisher: London, Spon Publication date: 1910 Subjects: Milling machines Notes: This is an OCR reprint. There may be numerous typos or missing text. There are no illustrations or indexes. When you buy the General Books edition of this book you get free trial access to MillionBooks.com where you can select from more than a million books for free. You can also preview the book there. Author: De Vries, D. Binding Type: Paperback Number of Pages: 180 Publication Date: 2010/01/06 Language: English Dimensions: 5.98 x 9.01 x 0.41 inches |
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Milling Machine $78.07 A milling machine is a machine tool used for the shaping of metal and other solid materials. Milling machines exist in two basic forms: horizontal and vertical, which terms refer to the orientation of the cutting tool spindle. Unlike a drill press, in which the workpiece is held stationary and the drill is moved vertically to penetrate the material, milling also involves movement of the workpiece against the rotating cutter, the latter of which is able to cut on its flanks as well as its tip. Workpiece and cutter movement are precisely controlled to less than 0.001 inches (.025 millimeters), usually by means of precision ground slides and leadscrews or analogous technology. Milling machines may be manually operated, mechanically automated, or digitally automated via computer numerical control (CNe. Milling machines can perform a vast number of operations, some very complex, such as slot and keyway cutting, planing, drilling, diesinking, rebating, routing, etc. Cutting fluid is often pumped to the cutting site to cool and lubricate the cut, and to sluice away the resulting swarf. Author: Miller, Frederic P./ Vandome, Agnes F./ McBrewster, John Binding Type: Paperback Number of Pages: 90 Publication Date: 2010/01/11 Language: English Dimensions: 5.98 x 9.01 x 0.21 inches |
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Milling by Hall, Harold Edition ILL, 0 $16.99 Milling. Hall, Harold |
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Safety Milling Fixture Safety Milling Fixture $50 Takes the guess work out of milling for swing safety conversions. Cuts machine time in half by breaking down milling cuts into three easy steps. Holds 98 or ’03 bolt shrouds square and secure. Clear easy-to-read instructions included. Mfg: Glen Chapman SPECS: Machined aluminum. 4" (10.2cm) lg 3" (7.6cm) w 1" (2.5cm) thick. |
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Northwestern Consolidated Milling Company $89.22 High Quality Content by WIKIPEDIA articles Northwestern Consolidated Milling Company was an American flour milling company that operated about one quarter of the mills in Minneapolis, Minnesota when the city was the flour milling capital of the world. Formed as a business entity, Northwestern produced flour for the half century between 1891 and 1953, when its A Mill was converted to storage and light manufacturing. At its founding, Northwestern was the citys and the worlds second largest flour milling company after Pillsbury, with what is today General Mills a close third. The company was touched by an attempt at U.S. monopoly and became part of a Minneapolis oligopoly that valued in 1905 owned almost 9 of the countrys flour and grist products. Author: Surhone, Lambert M./ Timpledon, Miriam T./ Marseken, Susan F. Binding Type: Paperback Number of Pages: 130 Publication Date: 2010/05/19 Language: English Dimensions: 5.98 x 9.01 x 0.30 inches |
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Corn Milling $10.78 No Synopsis Available |
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JET 660100KT Milling Accessory Kit $1149 6-Piece Collet Set – 650132. 52-Piece Clamping Kit – 660012. 24-Piece 58 Milling Tool Kit – 660220. Verti-Lock Machine Vise – 63186 |
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Buck Folding Omni Hunter 10 pt Camo Sandvik $61.69 Compact heavyduty folding hunter. Midlockback with contoured handle fingergroove grip ridges and lanyard hole. Sheath Included. . Weight: 2.8 oz.. Handle Material: Thermoplastic base with Dynaflexreg; rubber overmold in Black. Blade Steel: 12C27Mod Sandvik . Length Closed: 4 5/8 . Blade Length: 3 nbsp; |
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JET 690053 JTM-1054R, 10-in x 54-in Vertical Milling Machine $14999 10-in x 54-in Vertical Milling Machine – 690053 |
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The Stamp Milling of Gold Ores. $32.31 Title: The Stamp Milling of Gold Ores.Publisher: British Library, Historical Print EditionsThe British Library is the national library of the United Kingdom. It is one of the worlds largest research libraries holding over 150 million items in all known languages and formats: books, journals, newspapers, sound recordings, patents, maps, stamps, prints and much more. Its collections include around 14 million books, along with substantial additional collections of manuscripts and historical items dating back as far as 300 BC.The GEOLOGY collection includes books from the British Library digitised by Microsoft. The works in this collection contain a number of maps, charts, and tables from the 16th to the 19th centuries documenting geological features of the natural world. Also contained are textbooks and early scientific studies that catalogue and chronicle the human stance toward water and land use. Readers will further enjoy early historical maps of rivers and shorelines demonstrating the artistry of journeymen, cartographers, and illustrators. ++++The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to insure edition identification: ++++ British Library Rickard, Thomas Arthur; 1897. xi. 260 p.; 8 . 07108.aaa.16. Author: Rickard, Thomas Arthur Binding Type: Paperback Number of Pages: 300 Publication Date: 2011/01/10 Language: English Dimensions: 9.69 x 7.44 x 0.63 inches |
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Road Milling Machines by Randolph, Joanne Edition , 0 $11.49 Presents information on the road milling machine, a machine used in ripping up an old street so a new one can be built. |
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Blendtec Residential 52601BHM Kitchen Mill, Stainless Steel Milling Chamber, 120V $179.95 Blendtec Residential 52601BHM Kitchen Mill, Stainless Steel Milling Chamber, 120V |
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The Miller and Milling Engineer $26.07 Author: Oliver, Charles E. Binding Type: Paperback Publication Date: 2010/10/14 Language: English Dimensions: 9.69 x 7.44 x 0.36 inches |
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