https://www.taxtmi.com/acts?id=15291 Where an owner transfers property to another for an illegal purpose but the purpose is not carried into execution, or the transferor is less guilty than the transferee, or permitting retention would defeat statutory provisions, the transferee must hold the property for the benefit of the transferor, converting the transferee's title into an equitable holding rather than enforcing the illegal transaction. en-us Wed, 21 Sep 2011 11:13:41 +0530 Wed, 21 Sep 2011 11:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15291 Where an owner transfers property to another for an illegal purpose but the purpose is not carried into execution, or the transferor is less guilty than the transferee, or permitting retention would defeat statutory provisions, the transferee must hold the property for the benefit of the transferor, converting the transferee's title into an equitable holding rather than enforcing the illegal transaction. Act-Rules Trust and Society Wed, 21 Sep 2011 11:13:41 +0530 https://www.taxtmi.com/acts?id=15291