2023 (10) TMI 305 - SCH - Income Tax

Doctrine of constitutional priority - Certain transfers to be void u/s 281 - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the secured creditors Dues of the Income Tax Department precedence over the dues of the secured creditor - Scope and ambit of Section 281 of the Income Tax Act 1961 and Section 26E of SARFAESI Act and Section 31B of the Recovery of Debts and Bankruptcy Act 1993 - Tax recovery proceedings - HELD THAT - It is not in dispute that before filing of this Special Leave Petition the auction sale has been completed. The documents produced on record show that the sale certificate has been issued and the auction purchasers have been placed in possession. Only on the basis of this factual aspect we decline to entertain this Special Leave Petition. The same is accordingly dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition as the auction sale was completed before filing. The sale certificate was issued, and auction purchasers were placed in possession. The Court declined to entertain the petition but kept the question of law open. Pending applications were disposed of accordingly.