https://www.taxtmi.com/caselaws?id=13331 The court held that the claims of secured creditors and workers under Section 529A of the Companies Act take priority over the Income-tax Department's dues. The court dismissed the application, ruling that the Income-tax Department does not have preference over secured creditors and workers as per Section 529A of the Companies Act. The court emphasized that the rights of secured creditors and workers supersede the claims of tax authorities under Section 178 of the Income-tax Act. en-us Tue, 13 Jun 2006 00:00:00 +0530 Thu, 28 May 2009 12:00:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13331 The court held that the claims of secured creditors and workers under Section 529A of the Companies Act take priority over the Income-tax Department's dues. The court dismissed the application, ruling that the Income-tax Department does not have preference over secured creditors and workers as per Section 529A of the Companies Act. The court emphasized that the rights of secured creditors and workers supersede the claims of tax authorities under Section 178 of the Income-tax Act. Case-Laws Income Tax Tue, 13 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13331