12 January 2014
Explanation 2 to section 2(47) says that; transfer includes 1. disposing of or parting with an asset or any interest therein 2. creating any interest in any asset in any manner. Please explain the second point. Thank you!
15 January 2014
Dear sir , creating any interest means that doing something by which one gain the title to goods ... The receipt of title of goods never means physical delivery of the goods ...like in the case of hypothecation bank retains the title to goods till the time the loan is repaid but physical possession remains with the borrower .....creating interest means getting title to the goods .... hope ur query is being solved
CAclubindia
