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2023 (7) TMI 615 - HC - Income TaxPriority of charges - Recovery of tax dues over secured creditors - Proceedings for attachment of various immovable properties - charge by the financial institutions v/s Income-Tax Department / Commercial Taxes Department - HELD THAT:- A Hon'ble Division Bench of this Court had had occasion to consider the question of priority of charges in State Bank of India v Tax Recovery Officer and batch .[2022 (12) TMI 557 - MADRAS HIGH COURT] has reiterated the legal position that it is the orders of attachment passed first that would have to be reckoned in order to decide priority. There is consensus of all learned counsel before me, including learned counsel for the Revenue Department that the observations and conclusions of the Division Bench would apply on all forms in the present writ petitions as well, in light of the position that the creation of charge by the financial institutions was long prior to the orders of attachment having been passed by the Income-Tax Department / Commercial Taxes Department. These writ petitions are thus liable to be allowed - The proceedings for attachment of the properties in the respective writ petitions stand quashed.
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