https://www.taxtmi.com/caselaws?id=410367 A secured creditor's charge over mortgaged property prevails over an Income Tax Department attachment where the creditor has a protected security interest and has invoked enforcement under the SARFAESI framework. The court treated the priority issue as settled by the statutory scheme under the debt recovery and SARFAESI laws, and applied the principle that income tax dues do not obtain paramountcy absent express statutory provision. The earlier tax attachment could not override the secured creditor's prior rights, so the attachment was to be lifted and enforcement against the secured asset could proceed. en-us Wed, 28 Jul 2021 00:00:00 +0530 Wed, 08 Dec 2021 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410367 A secured creditor's charge over mortgaged property prevails over an Income Tax Department attachment where the creditor has a protected security interest and has invoked enforcement under the SARFAESI framework. The court treated the priority issue as settled by the statutory scheme under the debt recovery and SARFAESI laws, and applied the principle that income tax dues do not obtain paramountcy absent express statutory provision. The earlier tax attachment could not override the secured creditor's prior rights, so the attachment was to be lifted and enforcement against the secured asset could proceed. Case-Laws Companies Law Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410367