Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
