Tax as first charge on property establishes a priority lien for tax, interest and penalty except under insolvency law. Any amount payable by a taxable person or other person for tax, interest or penalty due to the Government constitutes a first charge on that person's property, taking priority over inconsistent laws except where the insolvency regime provides otherwise.
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.
Tax as first charge on property establishes a priority lien for tax, interest and penalty except under insolvency law.
Any amount payable by a taxable person or other person for tax, interest or penalty due to the Government constitutes a first charge on that person's property, taking priority over inconsistent laws except where the insolvency regime provides otherwise.
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