Supreme Court of India
State of Karnataka and Anr. v. Shreyas Papers Pvt. Ltd. and Ors
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the view that the First Respondent was a purchaser for value without notice of the sales tax arrears of the Defaulting Company or the consequent charge on the property.
Judgment, page 12
From the headnote
Karnataka Sales Tax Act, 1957: Section 15-Purchaser-transferee of assets of defaulting Company transferor, if liable for sales tax arrears of defaulting Company-Held: Section 15 (I) operates only when there is complete transfer of ownership of business Defau/ting Company not sold as a going concern but there was transfer of individual assets of the Company, thus, section 15 not attracted and transferee not liable for transferor's sales tax liabilities-State Financial Corporation Act, 1951-Section 29. Section 13 (2)(i)-Creation of charge over properties of defaulter Charge, enforcement of,
Where later benches applied it
- 2023 K. C. Ninan v. Kerala State Electricity Board & Ors.
- 2022 Assistant Commissioner of Income Tax (exemptions) v. Ahmedabad Urban Development Authority
- 2008 Periyar & Pareekanni Rubbers Ltd. v. State of Kerala
Of those, 2 referred to · 1 mentioned
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