https://www.taxtmi.com/caselaws?id=26507 A prior mortgage created in favour of a bank gave it a subsisting security interest that could not be displaced by tax recovery proceedings against the mortgagor. The court held that the State's recovery claim was treated as that of an unsecured creditor in this context, so the bank's secured rights prevailed over the mortgaged property. It also held that the court could invoke its inherent powers under section 151 of the Code of Civil Procedure to protect the security, including by granting injunction relief against income-tax authorities even where they were not formally impleaded. en-us Wed, 05 Mar 1986 00:00:00 +0530 Fri, 05 Feb 2010 14:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26507 A prior mortgage created in favour of a bank gave it a subsisting security interest that could not be displaced by tax recovery proceedings against the mortgagor. The court held that the State's recovery claim was treated as that of an unsecured creditor in this context, so the bank's secured rights prevailed over the mortgaged property. It also held that the court could invoke its inherent powers under section 151 of the Code of Civil Procedure to protect the security, including by granting injunction relief against income-tax authorities even where they were not formally impleaded. Case-Laws Income Tax Wed, 05 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26507