https://www.taxtmi.com/caselaws?id=456571 A secured creditor's claim under the SARFAESI regime was held to have priority over State sales tax dues, because the property was already mortgaged to the bank and formed part of a secured asset. Applying Section 26E of the SARFAESI Act, the Court recognised that a secured creditor's debt prevails over Government revenues, taxes, cesses and other charges. The purchaser, having bought the property in a public e-auction, paid the full consideration and obtained a sale certificate and registered sale deed, was entitled to protection of that title. The State's revenue charge could not defeat the prior security interest or the auction purchaser's rights. en-us Wed, 18 Jan 2023 00:00:00 +0530 Thu, 01 Aug 2024 20:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456571 A secured creditor's claim under the SARFAESI regime was held to have priority over State sales tax dues, because the property was already mortgaged to the bank and formed part of a secured asset. Applying Section 26E of the SARFAESI Act, the Court recognised that a secured creditor's debt prevails over Government revenues, taxes, cesses and other charges. The purchaser, having bought the property in a public e-auction, paid the full consideration and obtained a sale certificate and registered sale deed, was entitled to protection of that title. The State's revenue charge could not defeat the prior security interest or the auction purchaser's rights. Case-Laws VAT and Sales Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456571