https://www.taxtmi.com/article/detailed?id=13258 Bonafide purchaser status must be proved when property is bought from an assessee with GST arrears and an attachment under Section 81 is challenged. Reliance on an encumbrance certificate alone is insufficient; the purchaser must establish good faith and adequate consideration. Indicators such as an unusually low sale price may create doubt and require a competent court to adjudicate the purchaser's intent. Authorities were directed to refrain from selling attached property while the purchaser files a declaration suit to prove bona fides, but the attachment itself was not stayed and authorities may proceed if no suit is instituted within the specified period. en-us Sat, 28 Dec 2024 10:21:59 +0530 Sat, 28 Dec 2024 10:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13258 Bonafide purchaser status must be proved when property is bought from an assessee with GST arrears and an attachment under Section 81 is challenged. Reliance on an encumbrance certificate alone is insufficient; the purchaser must establish good faith and adequate consideration. Indicators such as an unusually low sale price may create doubt and require a competent court to adjudicate the purchaser's intent. Authorities were directed to refrain from selling attached property while the purchaser files a declaration suit to prove bona fides, but the attachment itself was not stayed and authorities may proceed if no suit is instituted within the specified period. Articles Goods and Services Tax - GST Sat, 28 Dec 2024 10:21:59 +0530 https://www.taxtmi.com/article/detailed?id=13258