https://www.taxtmi.com/caselaws?id=97085 On voluntary liquidation, execution and attachment for income-tax and sales tax dues may be stayed where enforcement would disturb pari passu distribution among creditors and the tax claims are not established as fully preferential. The Court applied the liquidation scheme and the power to restrain execution where just and beneficial, finding no special circumstances to justify separate recovery of the disputed demands. An admitted preferential sales tax component was treated differently: it could be realised subject to protective terms, including an undertaking and payment to the State's attorney. The balance of the tax claims remained restrained in favour of the liquidator. en-us Thu, 14 Dec 1950 00:00:00 +0530 Fri, 13 Jan 2012 18:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97085 On voluntary liquidation, execution and attachment for income-tax and sales tax dues may be stayed where enforcement would disturb pari passu distribution among creditors and the tax claims are not established as fully preferential. The Court applied the liquidation scheme and the power to restrain execution where just and beneficial, finding no special circumstances to justify separate recovery of the disputed demands. An admitted preferential sales tax component was treated differently: it could be realised subject to protective terms, including an undertaking and payment to the State's attorney. The balance of the tax claims remained restrained in favour of the liquidator. Case-Laws Companies Law Thu, 14 Dec 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97085