https://www.taxtmi.com/caselaws?id=173780 A statutory first charge created for sales tax arrears prevails over an earlier equitable mortgage and an unexecuted civil decree obtained by the bank. The court reasoned that, until execution, title in the mortgaged property remains with the mortgagor and the decree only binds the parties to the suit; because the State was not a party, its rights were not affected by that decree. The State's first charge under Section 26B therefore took priority, and the recovery proceedings for arrears were valid. en-us Wed, 06 Jul 2005 00:00:00 +0530 Tue, 22 Sep 2015 14:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173780 A statutory first charge created for sales tax arrears prevails over an earlier equitable mortgage and an unexecuted civil decree obtained by the bank. The court reasoned that, until execution, title in the mortgaged property remains with the mortgagor and the decree only binds the parties to the suit; because the State was not a party, its rights were not affected by that decree. The State's first charge under Section 26B therefore took priority, and the recovery proceedings for arrears were valid. Case-Laws VAT and Sales Tax Wed, 06 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173780