https://www.taxtmi.com/caselaws?id=395710 Statutory sales tax dues under the Tamil Nadu General Sales Tax Act create a first charge that prevails over a prior mortgage and competing secured creditor claims. Where the defaulter's property was sold in SARFAESI proceedings and the proceeds were realised by the mortgagee bank, the tax charge attached to the property and extended to the realised sale proceeds. The mortgagee was therefore required to remit the proceeds toward the tax demand, and the secured claim could not defeat the statutory priority of the tax arrears. en-us Tue, 17 Mar 2020 00:00:00 +0530 Wed, 06 Nov 2024 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395710 Statutory sales tax dues under the Tamil Nadu General Sales Tax Act create a first charge that prevails over a prior mortgage and competing secured creditor claims. Where the defaulter's property was sold in SARFAESI proceedings and the proceeds were realised by the mortgagee bank, the tax charge attached to the property and extended to the realised sale proceeds. The mortgagee was therefore required to remit the proceeds toward the tax demand, and the secured claim could not defeat the statutory priority of the tax arrears. Case-Laws VAT / Sales Tax Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395710