https://www.taxtmi.com/caselaws?id=396332 A State tax attachment over a secured asset sold under the SARFAESI regime could not survive where the bank had already enforced its prior security interest and completed the auction sale. The Court applied the principle that a secured creditor's charge has priority over later VAT recovery proceedings against the erstwhile owner, so the subsequent revenue attachment entry could not override the bank's earlier right. The attachment entry was therefore required to be deleted. en-us Mon, 22 Jun 2020 00:00:00 +0530 Wed, 01 Jul 2020 08:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396332 A State tax attachment over a secured asset sold under the SARFAESI regime could not survive where the bank had already enforced its prior security interest and completed the auction sale. The Court applied the principle that a secured creditor's charge has priority over later VAT recovery proceedings against the erstwhile owner, so the subsequent revenue attachment entry could not override the bank's earlier right. The attachment entry was therefore required to be deleted. Case-Laws VAT and Sales Tax Mon, 22 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396332