https://www.taxtmi.com/caselaws?id=153994 Section 33-C of the Madhya Pradesh General Sales Tax Act, 1958 created a first charge for sales tax dues only on the dealer's property as it existed when the provision came into force on 15 March 1976. Because a mortgage transfers an interest in immovable property and a pledge creates a special property in favour of the secured creditor, pre-existing mortgages and pledges were not part of the dealer's property at that date. The statutory first charge could attach only to the dealer's remaining property and could not displace earlier secured interests. Prior mortgages and pledges were therefore protected from recovery of sales tax arrears. en-us Wed, 01 Sep 1982 00:00:00 +0530 Fri, 02 Aug 2013 17:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153994 Section 33-C of the Madhya Pradesh General Sales Tax Act, 1958 created a first charge for sales tax dues only on the dealer's property as it existed when the provision came into force on 15 March 1976. Because a mortgage transfers an interest in immovable property and a pledge creates a special property in favour of the secured creditor, pre-existing mortgages and pledges were not part of the dealer's property at that date. The statutory first charge could attach only to the dealer's remaining property and could not displace earlier secured interests. Prior mortgages and pledges were therefore protected from recovery of sales tax arrears. Case-Laws VAT and Sales Tax Wed, 01 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153994