93. Transfer of assets during pendency of proceedings to be void.
- Where, during the pendency of any proceeding under this Act or under the Act repealed by section 104 of this Act, any person creates a charge on or parts with the possession by way of sale, mortgage, gift, exchange or any other mode of transfer whatsoever, of any of his assets in favour of any other person with the intention to defraud revenue, such charge or transfer shall be void as against any claim in respect of any tax or any other sum payable by such person as a result of completion of the said proceeding.
