https://www.taxtmi.com/caselaws?id=444268 Priority under section 26E of the SARFAESI Act, subject to registration of the security interest under section 26B, enables secured creditors to realise secured debts from secured assets ahead of Government claims for sales tax, commercial tax, income tax, cesses and rates. Auction-sale certificates issued by secured creditors may be registered despite departmental attachments. Where sale proceeds exceed the secured debt, the surplus must be remitted to the relevant department; where no surplus remains, no remittance obligation arises and prosecution for non-remittance is unsustainable. en-us Wed, 27 Sep 2023 00:00:00 +0530 Fri, 11 Sep 2026 15:23:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444268 Priority under section 26E of the SARFAESI Act, subject to registration of the security interest under section 26B, enables secured creditors to realise secured debts from secured assets ahead of Government claims for sales tax, commercial tax, income tax, cesses and rates. Auction-sale certificates issued by secured creditors may be registered despite departmental attachments. Where sale proceeds exceed the secured debt, the surplus must be remitted to the relevant department; where no surplus remains, no remittance obligation arises and prosecution for non-remittance is unsustainable. Case-Laws VAT / Sales Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444268