First charge on property - tax, penalty and interest take priority over other contractual claims under the Act. Any amount due under the Act for tax, penalty, interest, composition money, forfeited sums, fines or other sums payable by a dealer or other person constitutes a first charge on the property of that dealer or person, notwithstanding any contract to the contrary, subject to any Central Act provision regarding creation of a first charge.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
First charge on property - tax, penalty and interest take priority over other contractual claims under the Act.
Any amount due under the Act for tax, penalty, interest, composition money, forfeited sums, fines or other sums payable by a dealer or other person constitutes a first charge on the property of that dealer or person, notwithstanding any contract to the contrary, subject to any Central Act provision regarding creation of a first charge.
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