Transferable - Definition - Law Dictionary Home Dictionary Definition transferable

Definition :

Transferable, ex facie, is not to be equated to 'transferred'. The word import a quality, a legal effect arising out of or inherent in the character and nature of shares themselves, Krishna Agency Ltd. v. Commissioner of Income Tax, AIR 1972 SC 156: (1971) 3 SCC 377: (1972) 1 SCWR 418; East India Corporation Ltd. v. Commissioner of Income Tax, 61 ITR 16 Mad.