Property transferred to spouse for Inadequate Consideration can be attached to recover Tax dues

The petitioner is the wife of the assessee in default who has been proceeded against for the income-tax dues for the block period 1986-87 to 1995-96. The transfer has been made on 05.1991; within the block period and during which period the assessee is said to have practised suppression and evasion. The act of the assessee who practised suppression and to avoid recovery, on such suppression being detected, by transferring the movable and immovable assets to his near relatives, to defeat the Revenue, is what is sought to be averted by the Explanation to Section 220(1) read with Rule 11 of Sched...