49.
Transfers to Defraud Revenue Void.- Where, during
the pendency of any proceeding relating to assessment, re-assessment
or recovery of any tax, interest or penalty payable under
this Act or the Bihar Finance Act, 1981, as it stood by its
repeal by section 94, any person or dealer creates a charge
on or parts with the possession, by any mode of transfer whatsoever
including sale, mortgage, gift or exchange, of any of his
assets in favour of any person with the intention of defrauding
the revenue, then, notwithstanding anything to the contrary
contained in any Act or contract, such charge or transfer
shall be void as against any claim in respect of any tax or
any other sum payable by the dealer as a result of the completion
of such proceeding or otherwise.
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