Void transfers to defeat government revenue are ineffective, subject to bona fide consideration, notice and prior permission safeguards. A person who, after an amount becomes due, creates a charge on or transfers property with intent to defraud Government revenue renders that charge or transfer void against claims for tax or other sums payable; however, transfers for adequate consideration, in good faith and without notice of proceedings or of the tax payable, or made with prior permission of the proper officer, are not void.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Void transfers to defeat government revenue are ineffective, subject to bona fide consideration, notice and prior permission safeguards.
A person who, after an amount becomes due, creates a charge on or transfers property with intent to defraud Government revenue renders that charge or transfer void against claims for tax or other sums payable; however, transfers for adequate consideration, in good faith and without notice of proceedings or of the tax payable, or made with prior permission of the proper officer, are not void.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
