https://www.taxtmi.com/caselaws?id=362237 Default under a statutory tax deferment scheme renders the deferred-payment benefit infructuous and restores unpaid instalments to the character of tax dues. Interest then attaches to the unpaid amount and is recoverable through the statutory recovery mechanism, notwithstanding the earlier treatment of deferred tax as a loan. A prior mortgage in favour of a secured creditor does not prevent attachment of the mortgaged property for tax recovery. Attachment does not determine priority over sale proceeds; the secured creditor's priority applies when competing claims are distributed according to law. en-us Fri, 20 Apr 2018 00:00:00 +0530 Fri, 22 Jun 2018 06:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362237 Default under a statutory tax deferment scheme renders the deferred-payment benefit infructuous and restores unpaid instalments to the character of tax dues. Interest then attaches to the unpaid amount and is recoverable through the statutory recovery mechanism, notwithstanding the earlier treatment of deferred tax as a loan. A prior mortgage in favour of a secured creditor does not prevent attachment of the mortgaged property for tax recovery. Attachment does not determine priority over sale proceeds; the secured creditor's priority applies when competing claims are distributed according to law. Case-Laws VAT and Sales Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362237