https://www.taxtmi.com/acts?id=50199 Transfers made by an assessee during pendency or after completion of proceedings but before service of notice under rule 2 of the Second Schedule that create a charge on, or part with possession of, assets are void as against claims for tax or other sums payable arising from that proceeding or otherwise, subject to exceptions for adequate consideration without notice and for prior permission of the Income-tax Officer; the section applies where tax and asset values exceed statutory thresholds and defines "assets" to include land, building, machinery, plant, shares, securities and bank fixed deposits. en-us Wed, 05 Mar 2025 15:26:13 +0530 Wed, 05 Mar 2025 15:26:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50199 Transfers made by an assessee during pendency or after completion of proceedings but before service of notice under rule 2 of the Second Schedule that create a charge on, or part with possession of, assets are void as against claims for tax or other sums payable arising from that proceeding or otherwise, subject to exceptions for adequate consideration without notice and for prior permission of the Income-tax Officer; the section applies where tax and asset values exceed statutory thresholds and defines "assets" to include land, building, machinery, plant, shares, securities and bank fixed deposits. Act-Rules F. Acts / Amendment Acts Wed, 05 Mar 2025 15:26:13 +0530 https://www.taxtmi.com/acts?id=50199