https://www.taxtmi.com/caselaws?id=97249 A final income-tax assessment made under section 23(4) of the Income-tax Act, 1922, after the assessee failed to file returns and produce books, and after statutory remedies were exhausted or not pursued, bound the liquidator in liquidation. The liquidator could not reject the tax claim merely because the books suggested a smaller profit or loss or because the assessment had not been fully contested. The claim could be displaced only if the assessment was shown to be vitiated by fraud. The income-tax claim therefore had to be admitted. en-us Fri, 14 Aug 1953 00:00:00 +0530 Mon, 16 Jan 2012 10:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97249 A final income-tax assessment made under section 23(4) of the Income-tax Act, 1922, after the assessee failed to file returns and produce books, and after statutory remedies were exhausted or not pursued, bound the liquidator in liquidation. The liquidator could not reject the tax claim merely because the books suggested a smaller profit or loss or because the assessment had not been fully contested. The claim could be displaced only if the assessment was shown to be vitiated by fraud. The income-tax claim therefore had to be admitted. Case-Laws Companies Law Fri, 14 Aug 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97249