Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
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Priority under section 26E of the Securitisation Act favours a bank's registered security interest over an Income Tax attachment where the Department has not publicly proclaimed the attachment in the prescribed manner or registered its claim or attachment order with CERSAI. A prior attachment alone does not displace the secured creditor's statutory priority. The attachment and resulting encumbrance must be removed to the extent they obstruct recovery of the bank's secured dues, while the Income Tax Department may recover its dues from surplus sale proceeds or other assets in accordance with law.
Priority under section 26E of the Securitisation Act favours a bank's registered security interest over an Income Tax attachment where the Department has not publicly proclaimed the attachment in the prescribed manner or registered its claim or attachment order with CERSAI. A prior attachment alone does not displace the secured creditor's statutory priority. The attachment and resulting encumbrance must be removed to the extent they obstruct recovery of the bank's secured dues, while the Income Tax Department may recover its dues from surplus sale proceeds or other assets in accordance with law.
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