Supreme Court of India
The Commissioner, Trade Tax, U.P. v. M/s Radico Khetan Ltd
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the above and for the reasons stated above, both the appeals fail and the same deserve to be dismissed and are a ccordingly dismissed.
Judgment, page 5
From the headnote
U.P . Trade Tax Act, 1948 – s.34 – When applicable – Held: s.34 shall be applicable only in a case where there is a trans fer of immovable property belonging to the original assese e, during the pendency of any proceedings under the Act with the intention of defrauding any such tax or other dues – As per prov iso to s.34, nothing in s.34 shall impair the rights of a transferee in good faith and for consideration – In the present case, the transf er of goods, plant, and machinery (may be treated as immovable pr operty) in favour of the respondent-purchaser took place on 12 .12.85 and 01.01.86
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