https://www.taxtmi.com/caselaws?id=355568 A secured creditor's statutory priority to realise secured debts from mortgaged assets was treated as prevailing over Government tax dues, and the amended provision was read as overriding contrary laws and applying to pending disputes. On that basis, the bank's charge over the mortgaged property was recognised as superior to the department's claim. The Sales Tax Department's attachment over the same property could not survive once secured creditor priority was affirmed, and the attachment was treated as without legal authority in the circumstances. The mortgaged property was therefore released from departmental attachment, preserving the secured creditor's enforcement rights. en-us Thu, 18 Jan 2018 00:00:00 +0530 Fri, 16 Feb 2018 07:08:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355568 A secured creditor's statutory priority to realise secured debts from mortgaged assets was treated as prevailing over Government tax dues, and the amended provision was read as overriding contrary laws and applying to pending disputes. On that basis, the bank's charge over the mortgaged property was recognised as superior to the department's claim. The Sales Tax Department's attachment over the same property could not survive once secured creditor priority was affirmed, and the attachment was treated as without legal authority in the circumstances. The mortgaged property was therefore released from departmental attachment, preserving the secured creditor's enforcement rights. Case-Laws VAT and Sales Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355568