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[Cites 0, Cited by 0] [Section 499] [Entire Act]

Union of India - Subsection

Section 499(2) in The Income Tax Act, 2025

(2)The charge or transfer as referred to in sub-section (1) shall not be void if it is made—
(a)for adequate consideration and without notice of the pendency of such proceeding or, as the case may be, without notice of such tax or other sum payable by the assessee; or
(b)with the previous permission of the Assessing Officer.