Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
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The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax Departments. The order of attachment issued by the Sales Tax Department is dated 19th April 2022, after the bank's security interest registration. As per Section 26-E of the SARFAESI Act and the ratio laid down by the Full Bench and Division Bench judgments cited, the secured creditor's claim, i.e., the petitioner-bank's claim, will have preference over the respondents' (GST Department and Sales Tax Department) claims. Consequently, the petition was allowed.
The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax Departments. The order of attachment issued by the Sales Tax Department is dated 19th April 2022, after the bank's security interest registration. As per Section 26-E of the SARFAESI Act and the ratio laid down by the Full Bench and Division Bench judgments cited, the secured creditor's claim, i.e., the petitioner-bank's claim, will have preference over the respondents' (GST Department and Sales Tax Department) claims. Consequently, the petition was allowed.
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