https://www.taxtmi.com/caselaws?id=346182 The court ruled in favor of the financial institution, emphasizing that a secured creditor's rights take priority over government dues, including taxes and revenues, in realizing debts through asset sales. The judgment clarified the priority of secured creditors over government dues, settling the issue in favor of the financial institution. Additionally, the court upheld the rights of the petitioners as successors to the financing bank, allowing the writ petitions, setting aside the attachment orders, and directing the removal of encumbrance entries on the subject properties. en-us Tue, 18 Jul 2017 00:00:00 +0530 Sat, 05 Aug 2017 07:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346182 The court ruled in favor of the financial institution, emphasizing that a secured creditor's rights take priority over government dues, including taxes and revenues, in realizing debts through asset sales. The judgment clarified the priority of secured creditors over government dues, settling the issue in favor of the financial institution. Additionally, the court upheld the rights of the petitioners as successors to the financing bank, allowing the writ petitions, setting aside the attachment orders, and directing the removal of encumbrance entries on the subject properties. Case-Laws Income Tax Tue, 18 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346182