https://www.taxtmi.com/caselaws?id=195828 Tender conditions can validly shift outstanding tax liabilities to an auction purchaser where the purchaser bids with notice and accepts the contractual terms. Clause 2.7 went beyond a general "as is where is" basis and required the purchaser to discharge liabilities over and above the purchase consideration after due diligence. The dispute was treated as one of contractual allocation of liabilities, not whether the tax dues constituted a statutory first charge on the assets. The principle reflected in Section 55 of the Transfer of Property Act, 1882 supported enforcement of a contract to the contrary, and the purchaser was bound to pay the Central Excise and State Sales Tax dues. en-us Wed, 21 Sep 2011 00:00:00 +0530 Sat, 11 Nov 2017 11:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195828 Tender conditions can validly shift outstanding tax liabilities to an auction purchaser where the purchaser bids with notice and accepts the contractual terms. Clause 2.7 went beyond a general "as is where is" basis and required the purchaser to discharge liabilities over and above the purchase consideration after due diligence. The dispute was treated as one of contractual allocation of liabilities, not whether the tax dues constituted a statutory first charge on the assets. The principle reflected in Section 55 of the Transfer of Property Act, 1882 supported enforcement of a contract to the contrary, and the purchaser was bound to pay the Central Excise and State Sales Tax dues. Case-Laws Central Excise Wed, 21 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195828