https://www.taxtmi.com/caselaws?id=421745 A secured creditor's prior mortgage and enforcement under the SARFAESI Act prevailed over the State's VAT claim. The Court applied the settled principle that State tax dues do not override a secured creditor unless the taxing statute expressly creates a first charge. Section 48 of the Gujarat Value Added Tax Act, 2003 was held insufficient to displace the bank's priority, and SARFAESI's overriding framework controlled the secured asset. The tax attachment and the consequential revenue entry were therefore inconsistent with the bank's security interest and liable to be quashed, with release of the conveyance deed and mutation in favour of the purchaser. en-us Fri, 08 Apr 2022 00:00:00 +0530 Sat, 30 Apr 2022 20:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421745 A secured creditor's prior mortgage and enforcement under the SARFAESI Act prevailed over the State's VAT claim. The Court applied the settled principle that State tax dues do not override a secured creditor unless the taxing statute expressly creates a first charge. Section 48 of the Gujarat Value Added Tax Act, 2003 was held insufficient to displace the bank's priority, and SARFAESI's overriding framework controlled the secured asset. The tax attachment and the consequential revenue entry were therefore inconsistent with the bank's security interest and liable to be quashed, with release of the conveyance deed and mutation in favour of the purchaser. Case-Laws VAT and Sales Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421745