https://www.taxtmi.com/caselaws?id=105616 Section 15(1) of the Karnataka Sales Tax Act applies only where ownership of the business is transferred as a going concern; a purchaser of only the assets of an industrial concern sold by a State Financial Corporation is not a transferee of the business and is not liable for the transferor's sales tax arrears. A statutory charge for arrears is enforceable against transferred property only subject to the proviso to section 100 of the Transfer of Property Act, 1882; in the absence of a rule dispensing with notice, it cannot bind a purchaser for value without actual or constructive notice. On the stated facts, the purchaser had no such notice. en-us Thu, 05 Jan 2006 00:00:00 +0530 Fri, 19 Sep 2025 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105616 Section 15(1) of the Karnataka Sales Tax Act applies only where ownership of the business is transferred as a going concern; a purchaser of only the assets of an industrial concern sold by a State Financial Corporation is not a transferee of the business and is not liable for the transferor's sales tax arrears. A statutory charge for arrears is enforceable against transferred property only subject to the proviso to section 100 of the Transfer of Property Act, 1882; in the absence of a rule dispensing with notice, it cannot bind a purchaser for value without actual or constructive notice. On the stated facts, the purchaser had no such notice. Case-Laws VAT / Sales Tax Thu, 05 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105616