https://www.taxtmi.com/caselaws?id=761129 A prior registered security interest of a secured creditor prevails over a later-created State VAT charge on the same mortgaged property. Where the bank's mortgage and security interest were registered before the revenue charge, the later tax claim could not displace the secured creditor's rights under Section 26E of the SARFAESI Act. On that basis, the adverse revenue mutation entry reflecting the State's charge was liable to be removed, and the authorities were directed to delete it. The stated principle is that a subsequent statutory charge for tax dues does not override an earlier registered secured interest. en-us Wed, 16 Oct 2024 00:00:00 +0530 Tue, 05 Nov 2024 19:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761129 A prior registered security interest of a secured creditor prevails over a later-created State VAT charge on the same mortgaged property. Where the bank's mortgage and security interest were registered before the revenue charge, the later tax claim could not displace the secured creditor's rights under Section 26E of the SARFAESI Act. On that basis, the adverse revenue mutation entry reflecting the State's charge was liable to be removed, and the authorities were directed to delete it. The stated principle is that a subsequent statutory charge for tax dues does not override an earlier registered secured interest. Case-Laws VAT / Sales Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761129