https://www.taxtmi.com/caselaws?id=106300 A State sales tax statute that creates a first charge on the dealer's property prevails over a bank's mortgage or security interest, because a statutory charge attaches to the property as a whole and is not limited to the equity of redemption. The Central recovery laws for banks and secured creditors do not displace that priority, since their non obstante clauses operate only where there is actual inconsistency and those enactments do not themselves create a first charge in favour of banks. The State charge is effective against prior encumbrances from the date the charging provision comes into force. en-us Fri, 27 Feb 2009 00:00:00 +0530 Wed, 19 Nov 2025 17:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106300 A State sales tax statute that creates a first charge on the dealer's property prevails over a bank's mortgage or security interest, because a statutory charge attaches to the property as a whole and is not limited to the equity of redemption. The Central recovery laws for banks and secured creditors do not displace that priority, since their non obstante clauses operate only where there is actual inconsistency and those enactments do not themselves create a first charge in favour of banks. The State charge is effective against prior encumbrances from the date the charging provision comes into force. Case-Laws VAT / Sales Tax Fri, 27 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106300