Tax as first charge on property secures government claims for tax, interest and penalties, subject to insolvency law. Any amount payable by a taxable person or other person for tax, interest or penalty to the Government shall be a first charge on that person's property, notwithstanding other laws, except as otherwise provided by the Insolvency and Bankruptcy Code which may affect the charge in insolvency proceedings.
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Provisions expressly mentioned in the judgment/order text.
Tax as first charge on property secures government claims for tax, interest and penalties, subject to insolvency law.
Any amount payable by a taxable person or other person for tax, interest or penalty to the Government shall be a first charge on that person's property, notwithstanding other laws, except as otherwise provided by the Insolvency and Bankruptcy Code which may affect the charge in insolvency proceedings.
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