https://www.taxtmi.com/caselaws?id=298935 Receiver-held collections in mortgage or charge proceedings remain in custodia legis and are not automatically impressed with the character of the mortgaged corpus; the court must expressly appropriate or create a charge for the mortgagee to obtain priority. The Crown's preferential right to satisfy revenue claims applies against unsecured creditors and, therefore, an Income Tax claim may be paid from receiver realisations unless the fund has been expressly charged, earmarked or appropriated in favour of a secured mortgagee. Outcome: Revenue priority upheld absent a court-created charge in favour of the mortgagee. en-us Fri, 03 Mar 1961 00:00:00 +0530 Sat, 27 Nov 2021 12:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298935 Receiver-held collections in mortgage or charge proceedings remain in custodia legis and are not automatically impressed with the character of the mortgaged corpus; the court must expressly appropriate or create a charge for the mortgagee to obtain priority. The Crown's preferential right to satisfy revenue claims applies against unsecured creditors and, therefore, an Income Tax claim may be paid from receiver realisations unless the fund has been expressly charged, earmarked or appropriated in favour of a secured mortgagee. Outcome: Revenue priority upheld absent a court-created charge in favour of the mortgagee. Case-Laws Indian Laws Fri, 03 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298935