ther all transfers made by the assessee during the pendency of the proceedings would automatically become null and void, without anything being done by any statutory authority or court? - whether the Tax Recovery Officer or the Civil Court, which is competent to issue a declaration of nullity and voidity of transfers under Section 281 (1) of the Income Tax Act? - mortgage was created by the assessee much before a demand was made under Rule 2 - whether all transfers made by the assessee during the pendency of the proceedings under the Act become automatically null and void, we must search for an answer from the Second Schedule to the Income Tax Act, 1961? - HELD THAT:- The proviso (i) to sub-section (1) of Section 281 provides an escape route for innocent third parties, to whom the property of the assessee is transferred during the pendency of the proceedings, but before an attachment is ordered. This compartmentalization is very important to be noted, in view of the fact that during th

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