https://www.taxtmi.com/caselaws?id=756299 Section 26E of the SARFAESI Act gives a registered secured creditor priority over later State claims for sales tax and other dues, so a tax charge created after the security interest cannot defeat rights acquired through a valid auction sale. Where the borrower's secured asset is sold by public auction and sale certificates are issued to bona fide purchasers, the purchasers' title crystallises from those certificates and mutation in the revenue record follows as a consequential step. A subsisting State attachment or charge cannot be maintained against such title, and delay in seeking mutation does not by itself bar relief. en-us Thu, 04 Jan 2024 00:00:00 +0530 Thu, 01 Aug 2024 08:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756299 Section 26E of the SARFAESI Act gives a registered secured creditor priority over later State claims for sales tax and other dues, so a tax charge created after the security interest cannot defeat rights acquired through a valid auction sale. Where the borrower's secured asset is sold by public auction and sale certificates are issued to bona fide purchasers, the purchasers' title crystallises from those certificates and mutation in the revenue record follows as a consequential step. A subsisting State attachment or charge cannot be maintained against such title, and delay in seeking mutation does not by itself bar relief. Case-Laws VAT and Sales Tax Thu, 04 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756299