Supreme Court · 1986 INSC 132 · Decided 15 July 1986
Union of India v. Rajeswari and Co, & ORS.
- Court
- Supreme Court of India
- Citation
- 1986 INSC 132 · [1986] 3 S.C.R. 175
- Case number
- CIVIL APPEAL No. 1689/1974
- Decided
- 15 July 1986
- Bench
- R.S. PATHAK, SABYASACHI MUKHERJI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 136; Transfer of Property Act Section 53; Companies Act; Income Tax Act Section 34
Headnote
Transfer of Property Act, 1882-s. 53-Applicability of-Pro­ ceeds arising upon transfer of assets of an assessee company employed fully in paying off some creditors-Transaction whether invalid and inoperative-Transfer in favour of a person not a creditor-validity of. Constitution of India, Art. working at a loss, having come to know of the proposal of the Department to reopen its income-tax assessments for the previous years, disposed of its assets to the respondent firm, with which it had a partnership business, and employed the proceeds in paying off the debts dne to various
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)