Certain transfers to be void

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....f any other person, shall be void as against any claim in respect of any sum payable by the person under this Code, if the person creates a charge on, or tranfers, any of his asset in favour of the ot....

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....e Assessing Officer. (3) This section applies to cases where the amount of sum payable, or likely to be payable, under this Code exceeds five thousand rupees and the asset charged, or transferred, e....