https://www.taxtmi.com/caselaws?id=440342 Prior mortgages and secured charges held in favour of banks and asset reconstruction companies prevailed over later attachment proceedings initiated by tax authorities, because priority followed the chronology of competing claims and a subsequent attachment could not defeat an earlier security interest. Relief was also not denied where some writ petitions did not expressly challenge the attachment order, since the substantive grievance was that the attachment prevented registration of sale certificates and lifting of the attachment was necessary to grant effective relief. The impugned attachment proceedings were set aside with consequential directions to protect the secured creditors' rights. en-us Tue, 27 Jun 2023 00:00:00 +0530 Sat, 15 Jul 2023 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440342 Prior mortgages and secured charges held in favour of banks and asset reconstruction companies prevailed over later attachment proceedings initiated by tax authorities, because priority followed the chronology of competing claims and a subsequent attachment could not defeat an earlier security interest. Relief was also not denied where some writ petitions did not expressly challenge the attachment order, since the substantive grievance was that the attachment prevented registration of sale certificates and lifting of the attachment was necessary to grant effective relief. The impugned attachment proceedings were set aside with consequential directions to protect the secured creditors' rights. Case-Laws Income Tax Tue, 27 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440342