https://www.taxtmi.com/caselaws?id=425243 A prior mortgage and secured creditor's sale certificate were held to have priority over a later Income Tax Department attachment. Section 281 of the Income-tax Act, 1961 was treated as a protective provision that does not create a preferential charge for the revenue, while Section 26E of the SARFAESI Act was noted as giving secured creditors priority notwithstanding other laws, subject to its statutory exception. Because the secured interest pre-dated the attachment, the departmental attachment could not defeat the bank's security interest, and refusal to register the sale certificate was unsustainable. en-us Fri, 24 Jun 2022 00:00:00 +0530 Mon, 18 Jul 2022 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425243 A prior mortgage and secured creditor's sale certificate were held to have priority over a later Income Tax Department attachment. Section 281 of the Income-tax Act, 1961 was treated as a protective provision that does not create a preferential charge for the revenue, while Section 26E of the SARFAESI Act was noted as giving secured creditors priority notwithstanding other laws, subject to its statutory exception. Because the secured interest pre-dated the attachment, the departmental attachment could not defeat the bank's security interest, and refusal to register the sale certificate was unsustainable. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425243