https://www.taxtmi.com/caselaws?id=313621 Gujarat HC held that a secured creditor bank has first charge over mortgaged property under Section 26-E SARFAESI Act, taking priority over state revenue dues. The bank auctioned property for Rs.3,41,00,000 after mortgage executed in 2012-2013, while state's charge was created later in 2015-2018. Court directed that bank's charge overrides state's claim under Section 48 GVAT 2003, following precedent in PATTECH FITWELL case. Revenue authorities must record sale certificate and mutation entry in favor of successful bidder. en-us Wed, 29 Jun 2022 00:00:00 +0530 Thu, 25 Apr 2024 06:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313621 Gujarat HC held that a secured creditor bank has first charge over mortgaged property under Section 26-E SARFAESI Act, taking priority over state revenue dues. The bank auctioned property for Rs.3,41,00,000 after mortgage executed in 2012-2013, while state's charge was created later in 2015-2018. Court directed that bank's charge overrides state's claim under Section 48 GVAT 2003, following precedent in PATTECH FITWELL case. Revenue authorities must record sale certificate and mutation entry in favor of successful bidder. Case-Laws VAT and Sales Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313621