https://www.taxtmi.com/caselaws?id=346429 A secured creditor's right to realise dues from mortgaged property prevailed over a Tax Recovery Officer's attachment because the security interest was created before the income-tax dues arose and the asset had already been proceeded against under SARFAESI and sold in auction. Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 gives priority to the secured creditor for recovery from the secured asset over other dues, including revenue claims. The attachment was therefore unsustainable and was set aside. en-us Mon, 31 Jul 2017 00:00:00 +0530 Sat, 12 Aug 2017 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346429 A secured creditor's right to realise dues from mortgaged property prevailed over a Tax Recovery Officer's attachment because the security interest was created before the income-tax dues arose and the asset had already been proceeded against under SARFAESI and sold in auction. Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 gives priority to the secured creditor for recovery from the secured asset over other dues, including revenue claims. The attachment was therefore unsustainable and was set aside. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346429