26.
Preferential
claims to assets
Notwithstanding
anything to the contrary contained in any law for the time being in force, any
amount of tax, including deferred tax which is treated as a loan extended by the
Government to the dealer, penalty, interest and any other sum payable by a VAT
dealer or TOT dealer or any other dealer under the Act, shall be the first
charge on the property of the VAT dealer or TOT dealer or any other dealer as
the case may be.