https://www.taxtmi.com/caselaws?id=171339 The court dismissed the appeal, upholding the deletion of revenue recovery entries from the Thandaper account. It emphasized the priority of Sections 529A and 530 of the Companies Act over Section 26B of the Sales Tax Act, ensuring secured creditors and workmen's dues take precedence over tax dues. The validity of the sale of company assets free of encumbrances was affirmed to protect creditor interests. The court clarified that Section 537(2) of the Companies Act did not support the State's claim in this context. en-us Wed, 18 Dec 2013 00:00:00 +0530 Wed, 15 Jul 2015 13:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171339 The court dismissed the appeal, upholding the deletion of revenue recovery entries from the Thandaper account. It emphasized the priority of Sections 529A and 530 of the Companies Act over Section 26B of the Sales Tax Act, ensuring secured creditors and workmen's dues take precedence over tax dues. The validity of the sale of company assets free of encumbrances was affirmed to protect creditor interests. The court clarified that Section 537(2) of the Companies Act did not support the State's claim in this context. Case-Laws VAT and Sales Tax Wed, 18 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171339