Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
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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 secured creditors whose security interest is registered with CERSAI before any other registration. In the case, the Petitioner bank registered its charge prior to State Tax Authorities' attachment order. Previous judgments support the priority of secured creditors in such cases. The Court held that State Tax Authorities must seek satisfaction from sale proceeds, not the asset sold under SARFAESI Act. The petition was allowed.
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 secured creditors whose security interest is registered with CERSAI before any other registration. In the case, the Petitioner bank registered its charge prior to State Tax Authorities' attachment order. Previous judgments support the priority of secured creditors in such cases. The Court held that State Tax Authorities must seek satisfaction from sale proceeds, not the asset sold under SARFAESI Act. The petition was allowed.
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