https://www.taxtmi.com/caselaws?id=768511 A prior bank lien over fixed deposits prevailed over a later sales tax demand because the secured interest was created before the assessment orders giving rise to the revenue claim. Section 24 of the Tamil Nadu General Sales Tax Act, 1959 gave the statutory demand priority, but it did not create a first charge capable of defeating an earlier secured creditor's charge. Section 24A also did not apply, as the lien predated the assessments and there was no factual basis to treat the arrangement as a fraudulent transfer. The recovery notice therefore could not be enforced against the secured deposits, though the revenue could proceed against other assets in accordance with law. en-us Mon, 20 Jan 2025 00:00:00 +0530 Tue, 08 Apr 2025 16:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768511 A prior bank lien over fixed deposits prevailed over a later sales tax demand because the secured interest was created before the assessment orders giving rise to the revenue claim. Section 24 of the Tamil Nadu General Sales Tax Act, 1959 gave the statutory demand priority, but it did not create a first charge capable of defeating an earlier secured creditor's charge. Section 24A also did not apply, as the lien predated the assessments and there was no factual basis to treat the arrangement as a fraudulent transfer. The recovery notice therefore could not be enforced against the secured deposits, though the revenue could proceed against other assets in accordance with law. Case-Laws VAT / Sales Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768511