Certain transfers to be void.

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Full Text of the Document

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....eates a charge on, or parts with the possession of, any of his assets in favour of any other person, such charge or transfer shall be void as against any claim in respect of any tax or any other sum payable by the assessee as a result of the completion of the said proceeding or otherwise. (2) The charge or transfer as referred to in sub-section (1) shall not be void if it is made- (a) for adequ....