https://www.taxtmi.com/caselaws?id=346429 The court set aside the Tax Recovery Officer's order of attachment against a property for pending Income Tax dues, favoring the nationalized bank's right as a secured creditor. The bank had obtained security interest in the property before the Income Tax dues arose, allowing it to recover its dues through the sale of the secured asset. The court held that the bank's rights under the SARFAESI Act took priority over the Revenue Department's claim for tax liabilities, ultimately ruling in favor of the bank and allowing it to proceed with the recovery of its unpaid dues. 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 The court set aside the Tax Recovery Officer's order of attachment against a property for pending Income Tax dues, favoring the nationalized bank's right as a secured creditor. The bank had obtained security interest in the property before the Income Tax dues arose, allowing it to recover its dues through the sale of the secured asset. The court held that the bank's rights under the SARFAESI Act took priority over the Revenue Department's claim for tax liabilities, ultimately ruling in favor of the bank and allowing it to proceed with the recovery of its unpaid dues. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346429