https://www.taxtmi.com/caselaws?id=406305 Immovable property furnished only as security for statutory dues under the Tamil Nadu General Sales Tax Act did not require a registered mortgage where the Department acquired no direct present interest in the property. The absence of registration did not invalidate the security bond, and the Revenue could invoke the undertaking against the secured property on default of the dealer's statutory liability. The Court rejected the objection that the bond was unenforceable for want of registration and sustained recovery proceedings against the property offered as security. en-us Wed, 07 Apr 2021 00:00:00 +0530 Fri, 09 Apr 2021 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406305 Immovable property furnished only as security for statutory dues under the Tamil Nadu General Sales Tax Act did not require a registered mortgage where the Department acquired no direct present interest in the property. The absence of registration did not invalidate the security bond, and the Revenue could invoke the undertaking against the secured property on default of the dealer's statutory liability. The Court rejected the objection that the bond was unenforceable for want of registration and sustained recovery proceedings against the property offered as security. Case-Laws VAT and Sales Tax Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406305