Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Under the SARFAESI Act, a bank's charge takes priority over the State's claim for outstanding dues related to specific land. The High Court held that the charge created by the State for sales tax or VAT dues has no legal efficacy due to the SARFAESI Act and RDB Act provisions. The petitioner bank had created a prior charge in 2011, while the State's charge was in 2018. Therefore, the petitioner bank's charge has priority over the property auctioned to petitioner no. 2. Consequently, the impugned orders were quashed, and the petition was allowed.
Under the SARFAESI Act, a bank's charge takes priority over the State's claim for outstanding dues related to specific land. The High Court held that the charge created by the State for sales tax or VAT dues has no legal efficacy due to the SARFAESI Act and RDB Act provisions. The petitioner bank had created a prior charge in 2011, while the State's charge was in 2018. Therefore, the petitioner bank's charge has priority over the property auctioned to petitioner no. 2. Consequently, the impugned orders were quashed, and the petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
