https://www.taxtmi.com/caselaws?id=251086 Continuation of exemption under Section 4-A(2-B) of the U.P. Trade Tax Act for a successor industrial unit remains subject to the statutory condition in Section 3-C that, on transfer of business, transferor and transferee are jointly and severally liable for tax due up to the date of transfer. A purchaser who accepts the exemption with that condition cannot later resist recovery of the predecessor's outstanding trade tax dues by asserting that the sale was free from encumbrances or by challenging the condition as illegal or contrary to public policy. The operative effect is that the successor remains liable for the earlier tax dues along with the transferor. en-us Thu, 07 Aug 2014 00:00:00 +0530 Wed, 03 Sep 2014 11:11:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251086 Continuation of exemption under Section 4-A(2-B) of the U.P. Trade Tax Act for a successor industrial unit remains subject to the statutory condition in Section 3-C that, on transfer of business, transferor and transferee are jointly and severally liable for tax due up to the date of transfer. A purchaser who accepts the exemption with that condition cannot later resist recovery of the predecessor's outstanding trade tax dues by asserting that the sale was free from encumbrances or by challenging the condition as illegal or contrary to public policy. The operative effect is that the successor remains liable for the earlier tax dues along with the transferor. Case-Laws VAT and Sales Tax Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251086