https://www.taxtmi.com/caselaws?id=750810 A duly registered security interest under the SARFAESI framework takes priority over attachment and recovery claims for income tax dues when the secured asset was mortgaged before the tax attachment and the borrower's account had become non-performing. The court applied Section 26E to hold that the secured creditor's right to realise the secured debt ranks ahead of Government dues in respect of the secured property. It also held that the registering authority cannot refuse to register a sale certificate merely because the property is under departmental attachment where the auction was conducted by the secured creditor and the sale certificate remains unregistered. en-us Wed, 13 Mar 2024 00:00:00 +0530 Fri, 29 Mar 2024 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750810 A duly registered security interest under the SARFAESI framework takes priority over attachment and recovery claims for income tax dues when the secured asset was mortgaged before the tax attachment and the borrower's account had become non-performing. The court applied Section 26E to hold that the secured creditor's right to realise the secured debt ranks ahead of Government dues in respect of the secured property. It also held that the registering authority cannot refuse to register a sale certificate merely because the property is under departmental attachment where the auction was conducted by the secured creditor and the sale certificate remains unregistered. Case-Laws Income Tax Wed, 13 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750810