Kumar (Article) (922 Points)
04 June 2010A company goes into liquidation and its assets are put to sale by court on AS IS WHERE IS AND WHATEVER THERE IS basis.
Mr X purchases a building of the company..........and soon after receives a notice from the Municipal Corporation abt the arrear tax on the building for period prior to purchases by Mr. X.
The Municipal Corporation had not filed any claim with the official liquidator....
Is Mr. X Liable to pay the arrear tax.......
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 04 June 2010
yes, Purchase of any assets is lible to any previous dues.
pooja agarwal
(ipcc student)
(63 Points)
Replied 04 June 2010
yes, mr. x will be liable 4 the tax arrears
CAclubindia
