https://www.taxtmi.com/caselaws?id=434735 Secured creditors' statutory priority over Government dues prevails where Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 and Section 26E of the Securitisation and Reconstruction of Financial Assets and Security Interest Act, 2002 apply, so a later State VAT charge cannot override that priority. On that basis, the revenue entry reflecting the State tax charge was unsustainable, and the auction purchaser's title was protected because the property had been sold through public auction for full consideration. The authorities were directed to register the sale deed in favour of the auction purchaser. en-us Wed, 08 Feb 2023 00:00:00 +0530 Fri, 03 Mar 2023 08:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434735 Secured creditors' statutory priority over Government dues prevails where Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 and Section 26E of the Securitisation and Reconstruction of Financial Assets and Security Interest Act, 2002 apply, so a later State VAT charge cannot override that priority. On that basis, the revenue entry reflecting the State tax charge was unsustainable, and the auction purchaser's title was protected because the property had been sold through public auction for full consideration. The authorities were directed to register the sale deed in favour of the auction purchaser. Case-Laws VAT and Sales Tax Wed, 08 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434735