Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Secured creditors' statutory priority in realising dues from secured assets prevails over State tax claims, including claims supported by a State-law first charge or non obstante clause. A State relying on a prior attachment must establish compliance with the prescribed recovery procedure, including public proclamation; an attachment order alone does not sustain the claim. Following enforcement of security interest and completion of a SARFAESI auction, purchasers holding sale certificates may enjoy the property free of State tax encumbrances. "As is where is" auction terms do not permit retention of revenue-record encumbrance entries or pursuit of the asset in the purchaser's hands for State dues.
Secured creditors' statutory priority in realising dues from secured assets prevails over State tax claims, including claims supported by a State-law first charge or non obstante clause. A State relying on a prior attachment must establish compliance with the prescribed recovery procedure, including public proclamation; an attachment order alone does not sustain the claim. Following enforcement of security interest and completion of a SARFAESI auction, purchasers holding sale certificates may enjoy the property free of State tax encumbrances. "As is where is" auction terms do not permit retention of revenue-record encumbrance entries or pursuit of the asset in the purchaser's hands for State dues.
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