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HC dismissed the appellants' writ appeals and upheld the rights of anonymous purchasers as bona fide purchasers for value without notice. The Court held that the proviso to Section 24-A/43 protects transfers made for adequate consideration absent notice of pending tax proceedings or demand; clause (ii) (prior permission) was inapplicable. The Revenue failed to plead or adduce material establishing collusion, fraud or intent to defraud, a jurisdictional fact necessary to invoke Sections 24-A/43. Encumbrance certificates showed no antecedent charge in most cases and, where a charge existed, it post-dated the sales. Consequently the purchasers' titles could not be encumbered by the tax demands and the appeals were dismissed.
HC dismissed the appellants' writ appeals and upheld the rights of anonymous purchasers as bona fide purchasers for value without notice. The Court held that the proviso to Section 24-A/43 protects transfers made for adequate consideration absent notice of pending tax proceedings or demand; clause (ii) (prior permission) was inapplicable. The Revenue failed to plead or adduce material establishing collusion, fraud or intent to defraud, a jurisdictional fact necessary to invoke Sections 24-A/43. Encumbrance certificates showed no antecedent charge in most cases and, where a charge existed, it post-dated the sales. Consequently the purchasers' titles could not be encumbered by the tax demands and the appeals were dismissed.
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