Tax recovery proceedings - Right over property mortgaged - It ...

Case Laws Income Tax

March 3, 2022

Tax recovery proceedings - Right over property mortgaged - It has come to the knowledge of the Tax Recovery Officer that the defaulter has mortgaged the subject property with the petitioner-Bank and the same was registered on 04.04.2013. Thus, the first respondent-Tax Recovery Officer formed an opinion that the attachment date precedes the mortgage date and hence the mortgage of the subject property and transfer of the subject property is void under the provisions of the Income Tax Act. - the petitioner-Bank in the present case, is at liberty to approach the first respondent-Tax Recovery Officer by filing an appropriate application under Schedule II, Rule 11 of the Income Tax Act. - HC

View Source

← Previous Next →

Tax recovery proceedings - Right over property mortgaged - It ...

Case Laws Income Tax

March 3, 2022

You may also like:

Recovery of VAT from the purchaser of property in Auction - Attachment of mortgaged properties - It is hereby declared that the respondent No.2 had the first charge over...

Valuable right of recovery of petitioner as secured creditor - Tax recovery proceedings - priority to secured creditors - equitable mortgage created by the bank - The...

Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

Priority of claim after attachment orders u/s 281 - - mortgagee right of recovery vs Income tax dept right of recovery - the properties which belong to third party...

Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

Recovery proceedings of tax dues - preferential right - secured creditors - Income Tax Department’s preferential right to recovery of debts over other creditors is...

Attachment orders - Mortgagee right of recovery vs Income tax dept. right of recovery - in the light of the fact that the mortgage was created by the assessee much...

Recovery of tax dues - Right of auction purchaser of the property - Since the petitioner had purchased in the auction sale conducted by the bank under the provisions of...

Money Laundering - Provisional attachment - appellant created a mortgage over the Secured Property prior to the commission of the Scheduled Offence - Appellant has...

Sale of mortgaged property for recovery of excise dues - Excise dues are not dues which arise out of land or building. Such liabilities could be in the form of property...

The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court...

A Case of Coerced Input Tax Credit Reversal - GST recovery during search and seizure proceedings.

Recovery of property tax dues from the Liquidator - The Surat Municipal Corporation cannot claim any first charge or precedence over the subject property by virtue of...

Recovery proceedings - attachment orders - The machinery prescribed under the provisions of the Income Tax Act, 1961 to deal with situation arising out of wrongful...

Recovery proceeding - priority of charge - void transactions U/s 281 - The Income Tax Department is also free to seek its remedy before the appropriate forum including...

Quick Updates: