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    August 13, 2026   Case Laws Customs
    Fraudulent duty-free diversion defeats advance-licence exemption, enables extended recovery, and supports penalties for firms and active partners.
    August 13, 2026   Case Laws Companies Law
    Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
    August 13, 2026   Case Laws SEBI
    Insider trading presumption applies when persons possessing UPSI trade, with disgorgement available for losses averted through the contravention.
    August 13, 2026   Case Laws IBC
    Limitation for EPC operational debt runs from each payment default, preventing insolvency proceedings on time-barred claims.
    August 13, 2026   Case Laws IBC
    Pro rata resolution-plan distribution by admitted claims prevails over individual security interests for dissenting secured financial creditors.
    August 13, 2026   Case Laws FEMA
    Prima facie FEMA contravention can support equivalent-value property seizure despite overseas accounts and an income-tax settlement.
    August 13, 2026   Case Laws Money Laundering
    Money-laundering proceedings can survive compromise quashing, while PMLA bail fails where twin conditions and flight-risk concerns remain unmet.
    August 13, 2026   Case Laws Money Laundering
    Property of equivalent value remains vulnerable to freezing when direct proceeds of crime are unavailable and sources remain unexplained.
    August 13, 2026   Case Laws Service Tax
    Goods Transport Agency classification accepts bills as consignment notes, while unverified Form 26AS demands and extended limitation fail.
    August 13, 2026   Case Laws Service Tax
    Copyright exclusion from intellectual property right service prevents pre-2008 taxation of software licence royalties and defeats extended limitation.
    August 13, 2026   Case Laws Service Tax
    Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
    August 13, 2026   Case Laws Service Tax
    Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
    August 13, 2026   Case Laws Service Tax
    CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
    August 13, 2026   Case Laws Indian Laws
    Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
    August 12, 2026   Notifications Customs
    Customs tariff values for edible oils, brass scrap, areca nuts, gold and silver take effect from 11 August 2026.
    August 12, 2026   Circulars SEBI
    Municipal debt securities rules revise private-placement face values, pooled-finance escrow safeguards, and financial-results disclosure timelines wit...
    August 12, 2026   Circulars DGFT
    Enhanced due diligence for dealings with identified Bhutanese firms is advised to manage potential trade and payment risks.
    August 12, 2026   Case Laws GST
    GST registration cancellation appeals may be restored for merits review where genuine delay explanations justify condonation of limitation.
    August 12, 2026   Case Laws GST
    Fresh GST proceedings after quashed notices remain within limitation, but prejudged show cause notices require neutral reissuance.
    August 12, 2026   Case Laws GST
    Proper officer jurisdiction for a combined GST demand supports one waiver application covering operations across multiple States.
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August 13, 2026   Case Laws Customs
Fraudulent duty-free diversion defeats advance-licence exemption, enables extended recovery, and supports penalties for firms and active partners.
August 13, 2026   Case Laws Companies Law
Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed invoices.
August 13, 2026   Case Laws SEBI
Insider trading presumption applies when persons possessing UPSI trade, with disgorgement available for losses averted through the contravention.
August 13, 2026   Case Laws IBC
Limitation for EPC operational debt runs from each payment default, preventing insolvency proceedings on time-barred claims.
August 13, 2026   Case Laws IBC
Pro rata resolution-plan distribution by admitted claims prevails over individual security interests for dissenting secured financial creditors.
August 13, 2026   Case Laws FEMA
Prima facie FEMA contravention can support equivalent-value property seizure despite overseas accounts and an income-tax settlement.
August 13, 2026   Case Laws Money Laundering
Money-laundering proceedings can survive compromise quashing, while PMLA bail fails where twin conditions and flight-risk concerns remain unmet.
August 13, 2026   Case Laws Money Laundering
Property of equivalent value remains vulnerable to freezing when direct proceeds of crime are unavailable and sources remain unexplained.
August 13, 2026   Case Laws Service Tax
Goods Transport Agency classification accepts bills as consignment notes, while unverified Form 26AS demands and extended limitation fail.
August 13, 2026   Case Laws Service Tax
Copyright exclusion from intellectual property right service prevents pre-2008 taxation of software licence royalties and defeats extended limitation.
August 13, 2026   Case Laws Service Tax
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within normal limitation.
August 13, 2026   Case Laws Service Tax
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine membership attributes.
August 13, 2026   Case Laws Service Tax
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolution.
August 13, 2026   Case Laws Indian Laws
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility averments.
August 12, 2026   Notifications Customs
Customs tariff values for edible oils, brass scrap, areca nuts, gold and silver take effect from 11 August 2026.
August 12, 2026   Circulars SEBI
Municipal debt securities rules revise private-placement face values, pooled-finance escrow safeguards, and financial-results disclosure timelines with immediate effect.
August 12, 2026   Circulars DGFT
Enhanced due diligence for dealings with identified Bhutanese firms is advised to manage potential trade and payment risks.
August 12, 2026   Case Laws GST
GST registration cancellation appeals may be restored for merits review where genuine delay explanations justify condonation of limitation.
August 12, 2026   Case Laws GST
Fresh GST proceedings after quashed notices remain within limitation, but prejudged show cause notices require neutral reissuance.
August 12, 2026   Case Laws GST
Proper officer jurisdiction for a combined GST demand supports one waiver application covering operations across multiple States.

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Home › Highlights › VAT and Sales Tax › 2024 › July, 2024 › This
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VAT and Sales Tax

Secured creditor's priority charge over dues upheld. Section 26E...

Secured creditor's priority charge upheld over dues. Precedent grants priority over taxes. Bank claim registered earlier. Tax authority can recover from debtor.

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VAT and Sales Tax July 27, 2024 Case Laws HC
Secured creditor's priority charge over dues upheld. Section 26E of SARFAESI Act grants secured creditors priority over all other debts and taxes. Petitioner bank registered claim against secured assets earlier. As per precedent, secured creditor has priority over state government revenues and taxes. Petition allowed. Respondent tax authority free to recover dues from debtor as per law.
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Acts Income Tax
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