Section 73 in Uttar Pradesh Value Added Tax Act, 2008
73. Transfer to defraud revenue void.
(1)Where, during the pendency of any proceedings under this Act, any person liable to pay any tax or other dues creates a charge on, or transfers any movable or immovable property belonging to him in favour of any other person with the intention of defrauding any such tax or other dues, such charge or transfer shall be void as against any claim in respect of any tax or other dues payable by such person as a result of the completion of the said proceedings:Provided that nothing in this section shall impair the rights of a transferee in good faith and for consideration.(2)Nothing in sub-section (1) shall apply to a charge or transfer in favour of a banking company as defined in the Banking Regulation Act, 1949 ( Act X of 1949) or any other financial institution specified by the State Government by notification in this behalf.
