https://www.taxtmi.com/caselaws?id=150278 Arrears of sales tax recoverable as arrears of land revenue did not create priority over an existing mortgage, because the recovery provisions authorised attachment and sale only of the defaulter's property. Under an English mortgage, the mortgagor retains only the equity of redemption, while the mortgagee's interest is vested in the secured creditor. The revenue authorities could therefore proceed only against the equity of redemption remaining with the company, and could not defeat the mortgagee's secured rights by attaching the mortgaged property. The general priority rule for tax dues did not apply to a contest between the State and a secured creditor. en-us Fri, 08 Oct 1971 00:00:00 +0530 Sat, 11 May 2013 11:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150278 Arrears of sales tax recoverable as arrears of land revenue did not create priority over an existing mortgage, because the recovery provisions authorised attachment and sale only of the defaulter's property. Under an English mortgage, the mortgagor retains only the equity of redemption, while the mortgagee's interest is vested in the secured creditor. The revenue authorities could therefore proceed only against the equity of redemption remaining with the company, and could not defeat the mortgagee's secured rights by attaching the mortgaged property. The general priority rule for tax dues did not apply to a contest between the State and a secured creditor. Case-Laws VAT and Sales Tax Fri, 08 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150278