Section 62(3) in The Kerala Agricultural Income Tax Act, 1991
(3)Where, during the pendency of any proceedings under this Act, any assessee creates a charge on or parts with the possession by way of sale, mortgage, exchange or any other mode Of transfer whatsoever, of any of his assets, in favour of any other person, with the intention of evading payment of tax or other sum such charge or transfer shall be void as against any claim in respect, of any tax or any other sum payable by the assessee as a result of the completion of the said proceeding.Provided that a transferee in good faith and for valuable consideration is entitled to compensation for the loss or damage or both from the transferor:Provided further that the burden of proving that the transfer was in good faith IS on the transferee.
