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2022 (4) TMI 1252 - HC - VAT and Sales TaxRegistration of sale deed of the property - possession of the secured assets - original borrower defaulted in the repayment of the loan amount - HELD THAT:- What came to be purchased by the writ-applicant in the auction proceedings conducted by the State Bank of India was a secured asset under the provisions of the SARFAESI Act. In such circumstances, the State cannot claim preference over the subject property for the purpose of recovery of the dues towards VAT. It is hereby declared that the State cannot claim any first charge over the subject property by virtue of Section-48 of the GVAT Act, 2003 - The Sub-registrar is directed to register the sale-deed duly executed by the State Bank of India in favour of writ-applicant in accordance with the provisions of the Registration Act at the earliest. Application allowed.
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