https://www.taxtmi.com/caselaws?id=300820 The court held that the official liquidator is liable to pay post-liquidation property and water taxes from the sale proceeds, emphasizing that such liabilities are part of winding-up costs. The sale terms "as is where is whatsoever there is basis" did not impose tax liabilities on the purchaser unless explicitly stated. Section 530 of the Companies Act and Rule 154 of the Companies (Court) Rules were deemed inapplicable to the dispute. The court dismissed the appeals, upholding the official liquidator's liability for post-liquidation taxes and directing clarity in future sale notices to prevent similar conflicts. en-us Thu, 05 Feb 2009 00:00:00 +0530 Sat, 26 Feb 2022 11:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300820 The court held that the official liquidator is liable to pay post-liquidation property and water taxes from the sale proceeds, emphasizing that such liabilities are part of winding-up costs. The sale terms "as is where is whatsoever there is basis" did not impose tax liabilities on the purchaser unless explicitly stated. Section 530 of the Companies Act and Rule 154 of the Companies (Court) Rules were deemed inapplicable to the dispute. The court dismissed the appeals, upholding the official liquidator's liability for post-liquidation taxes and directing clarity in future sale notices to prevent similar conflicts. Case-Laws Companies Law Thu, 05 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300820