https://www.taxtmi.com/caselaws?id=191073 A statutory first charge created by Section 11AAAA of the Rajasthan Sales Tax Act, 1954 for tax, penalty and interest prevails over a State Financial Corporation's claim over a dealer's property. Section 29(4) of the State Financial Corporations Act, 1951 governs only the appropriation of sale proceeds after the Corporation takes over and sells secured assets; it does not create a competing first charge. Section 46B gives overriding effect only where there is real inconsistency, which was not found here. The Court therefore upheld the Sales Tax Department's priority, rejected the constitutional challenge, and treated the departmental attachment and auction as lawful. en-us Mon, 20 Feb 1995 00:00:00 +0530 Wed, 19 Apr 2017 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191073 A statutory first charge created by Section 11AAAA of the Rajasthan Sales Tax Act, 1954 for tax, penalty and interest prevails over a State Financial Corporation's claim over a dealer's property. Section 29(4) of the State Financial Corporations Act, 1951 governs only the appropriation of sale proceeds after the Corporation takes over and sells secured assets; it does not create a competing first charge. Section 46B gives overriding effect only where there is real inconsistency, which was not found here. The Court therefore upheld the Sales Tax Department's priority, rejected the constitutional challenge, and treated the departmental attachment and auction as lawful. Case-Laws VAT and Sales Tax Mon, 20 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191073