The Union Of India vs Rajeswari & Co. & Ors.

Authority: Supreme Court Date: 1986-07-15 Section: 261 Acts: Transfer of Property Act, 1882; Indian Income Tax Act, 1922 Result: Assessee Citation: (1986) 58 CTR 102 (SC) : (1986) 161 ITR 60 (SC) : (1986) 27 TAXMAN 258 Justices: R.S. Pathak & Sabyasachi Mukharji, JJ. Appeal No: Civil Appeal No. 1689 of 1974
Whether transfer of assets by a debtor company to pay off some creditors while leaving tax dues unpaid constitutes fraudulent transfer under Section 53 of the Transfer of Property Act, 1882 --- Held No, as preference of creditors without retaining benefit for debtor is permissible.

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