1995 (3) TMI 21

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....CHALAPATHI J.---The petitioner, an income-tax assessee, became a member of the Cozihom Co-operative Housing Society Limited, Pali Hill, Bombay, and purchased certain shares in his name. In lieu of the same, he was given possession of a Flat No. 82-B. As per the bye-laws of the society on transfer of the shares held by the member, the possession and ownership of the flat also stand transferred to t....

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....ar, dated December 4, 1991, the petitioner approached this court. Learned counsel for the Revenue took a preliminary objection to the maintainability of the writ petition on the ground that the petitioner having parted with the interest in the property, has no locus standi to file the writ petition. But the order impugned shows that the property will continue to be the property of the assessee.....

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....order of the Deputy Cornmissioner of Income-tax treating the property as property of the assessee is beyond the scope of section 281 of the Income-tax Act. Learned counsel for the Revenue contended that the assessee continues to be the owner of the property as the transfer is void under section 281 of the Income-tax Act as against the claims in respect of the tax liability. Section 281 reads as....

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....inst any claim in respect of any tax or any other sum payable by the assessee as a result of the said proceeding or otherwise. Thus, it is clear that the transaction or the transfer is not void ab initio. Section 281 only declares that any transfer is void against the claims of the Revenue in respect of the tax finally determined in a proceeding which has been pending at the time of the transfer. ....