Section 17 The Transfer of Property Act, 1882

 

 Section 17 The Transfer of Property Act, 1882: 

Direction for accumulation.—

(1) Where the terms of a transfer of property direct that the income arising from the property shall be accumulated either wholly or in part during a period longer than—

(a) the life of the transferor, or

(b) a period of eighteen years from the date of transfer, such direction shall, save as hereinafter provided, be void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed.

(2) This section shall not affect any direction for accumulation for the purpose of—

(i) the payment of the debts of the transferor or any other person taking any interest under the transferor; or

(ii) the provision of portions for children or remoter issue of the transferor or of any other person taking any interest under the transfer; or

(iii) the preservation or maintenance of the property transferred, and such direction may be made accordingly.

Supreme Court of India Important Judgments And Leading Case Law Related to Section 17 The Transfer of Property Act, 1882: 

Mardia Chemicals Ltd. Etc. Etc vs U.O.I. & Ors. Etc. Etc on 8 April, 2004

Kanaiyalal Lalchand Sachdev & Ors vs State Of Maharashtra & Ors on 7 February, 2011

Pallawi Resources Ltd vs Protos Engineering Company on 26 March, 2010

M/S Hindon Forge Pvt. Ltd. vs The State Of Uttar Pradesh Thr.  on 1 November, 2018

Patel Rambhai Bacharbhai & Anr vs Patel Dahyabhai Becharbhai & Anr on 4 April, 1966

Rajammal And Anr vs Mookan @ Peria Perumal Theval & Ors on 6 August, 1981

Commissioner Of Income Tax vs Balbir Singh Maini on 4 October, 2017

Raghunath & Ors vs Kedar Nath on 3 February, 1969

Suraj Lamp & Industries (P)  vs State Of Haryana & Anr on 11 October, 2011

N.O.I.D.A vs Army Welfare Housing  on 10 September, 2010

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