https://www.taxtmi.com/caselaws?id=10216 A transfer of immovable property made in breach of a subsisting injunction or prohibitory order is ineffective and cannot confer any right, title or interest on the transferee, even if the transferee was not a party to the restraint order. Under section 29 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Second Schedule to the Income-tax Act applies only so far as possible and with necessary modifications; rule 11 is therefore not mandatorily attracted in full when investigating claims or objections in execution of a recovery certificate. The challenge to the recovery proceedings accordingly failed, and attachment and sale were sustained. en-us Thu, 22 Apr 2004 00:00:00 +0530 Tue, 14 Jun 2011 04:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10216 A transfer of immovable property made in breach of a subsisting injunction or prohibitory order is ineffective and cannot confer any right, title or interest on the transferee, even if the transferee was not a party to the restraint order. Under section 29 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Second Schedule to the Income-tax Act applies only so far as possible and with necessary modifications; rule 11 is therefore not mandatorily attracted in full when investigating claims or objections in execution of a recovery certificate. The challenge to the recovery proceedings accordingly failed, and attachment and sale were sustained. Case-Laws Income Tax Thu, 22 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10216