https://www.taxtmi.com/caselaws?id=407905 Once the auction purchaser had paid the full sale consideration and the liquidator executed a sale certificate acknowledging completion of the transfer, the liquidator could not lawfully raise a further demand for interest or TDS. The sale certificate recorded transfer of the assets without reservation, so any post-execution monetary claim was inconsistent with the completed sale; the liquidator was left to seek any TDS refund from the income tax authorities. On the same footing, the liquidator could not retain or refuse possession of the sold assets, because the certificate also evidenced delivery of title deeds and vacant physical possession. The purchaser was therefore entitled to possession of the corporate debtor's assets. en-us Mon, 17 May 2021 00:00:00 +0530 Wed, 26 May 2021 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407905 Once the auction purchaser had paid the full sale consideration and the liquidator executed a sale certificate acknowledging completion of the transfer, the liquidator could not lawfully raise a further demand for interest or TDS. The sale certificate recorded transfer of the assets without reservation, so any post-execution monetary claim was inconsistent with the completed sale; the liquidator was left to seek any TDS refund from the income tax authorities. On the same footing, the liquidator could not retain or refuse possession of the sold assets, because the certificate also evidenced delivery of title deeds and vacant physical possession. The purchaser was therefore entitled to possession of the corporate debtor's assets. Case-Laws Insolvency and Bankruptcy Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407905