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1972 (8) TMI 36 - HC - Income TaxTransfer Of Property Act, 1882 - When the assessee sells all property to defeat anticipated claim of Income-tax and discharges all other creditors whether it can be said that sale is voidable and it was effected with the intention to defeat or delay creditors and also whether the suit to impugn the sale lies - The only question that arises for determination in this appeal filed by defendants Nos. 2 to 13 is whether the sales of the suit properties by the first defendant, which is a public limited company, in favour of the second defendant-firm, of which the partners are defendants Nos. 3 to 13, were effected with intent to defeat or delay the Union of India and other creditors of the first defendant-company – held that Union of India was not entitled to any relief under section 53 of Transfer of Property Act
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