https://www.taxtmi.com/caselaws?id=423100 Section 26E of the SARFAESI Act gives the secured creditor priority over the secured asset, so the State could not assert a first charge for VAT dues against the property sold in auction by the bank. Section 48 of the Gujarat Value Added Tax Act, 2003 could not displace that statutory priority in relation to the secured property. After sale by the secured creditor and issuance of the sale certificate, the State's recovery claim could not prevail against the auction purchaser or the bank's title, and the revenue record could not continue to reflect the State's charge. The mutation entry showing the State's charge was directed to be deleted and the sale recorded in favour of the purchaser. en-us Wed, 04 May 2022 00:00:00 +0530 Mon, 30 May 2022 08:45:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423100 Section 26E of the SARFAESI Act gives the secured creditor priority over the secured asset, so the State could not assert a first charge for VAT dues against the property sold in auction by the bank. Section 48 of the Gujarat Value Added Tax Act, 2003 could not displace that statutory priority in relation to the secured property. After sale by the secured creditor and issuance of the sale certificate, the State's recovery claim could not prevail against the auction purchaser or the bank's title, and the revenue record could not continue to reflect the State's charge. The mutation entry showing the State's charge was directed to be deleted and the sale recorded in favour of the purchaser. Case-Laws VAT and Sales Tax Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423100