Secured creditor has priority over Sales Tax Department for ...

Secured creditor's dues take priority over Sales Tax dues; valid attachment by Tax Dept. required before claiming precedence.

Case Laws VAT and Sales Tax

August 29, 2024

Secured creditor has priority over Sales Tax Department for recovering dues from borrower/entity. Section 26E of SARFAESI Act and Section 38 of 2002 Act considered. Sales Tax Department must attach immovable property and issue proclamation as per law before enforcing priority over secured creditor. Mere communication to revenue authorities insufficient. Without valid attachment order and proclamation, Sales Tax Department cannot claim precedence over secured creditor's dues u/s 26E of SARFAESI Act. Secured creditor's petition allowed to proceed with enforcement of security interest over assets.

View Source

← Previous Next →

Secured creditor has priority over Sales Tax Department for ...

Secured creditor's dues take priority over Sales Tax dues; valid attachment by Tax Dept. required before claiming precedence.

Case Laws VAT and Sales Tax

August 29, 2024

You may also like:

Attachment by the sales tax authorities over an apartment in Mumbai - priority of charges - The High Court concludes that the petitioner, as the auction purchaser, holds...

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...

Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central...

Recovery of sales tax dues - encumbered property or not - liability of auction purchasers - this is a clear case in which the Sales Tax Department had a charge on 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...

Secured creditor's priority charge over dues upheld. Section 26E of SARFAESI Act grants secured creditors priority over all other debts and taxes. Petitioner bank...

Recovery of tax dues - Attachment of assets - dues of MVAT Authorities’ have charge in priority to the secured creditors or not - This judgment reaffirms the supremacy...

Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act...

Priority in recovering dues - Secured Creditors or Crown debt - secured creditor has preference over the dues of the Income Tax Department.... - HC

Priority Charge - Seeking directions to remove the order of attachment over the property of the borrower, which according to the petitioner, is mortgaged and is a...

Priority of recovery of tax / duty of excise dues - Attachment of property - Seeking removal of lien/charge/encumbrance/mutation entry of Central Excise Department - the...

Attachment orders - petitioner(bank) taken over property of guarantor of loan and sold the same - firstly attachment made by the dept. of the the properties belonging to...

The Bombay High Court ruled on the priority of secured creditors u/s 26-E of the SARFAESI Act, 2002 over State Tax Authorities' claims. Section 26-E grants priority to...

The court addressed the challenge to the order of attachment and the priority of charge between the Multi-State Co-operative Bank and the Sales Tax Department for...

The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax...

Quick Updates: