Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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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