https://www.taxtmi.com/caselaws?id=97972 A statutory notice under section 46(5A) created an enforceable claim in liquidation where the company had acknowledged the liability before the limitation period expired, so the debt was not time-barred and could be proved against the company. Preferential status, however, was confined to the company's own tax dues to the Central Government; a claim arising from a direction to pay money due to another assessee did not qualify as a preferential tax debt. The claim was therefore admitted only as an ordinary unsecured debt, and preferential payment was refused. en-us Fri, 07 Sep 1962 00:00:00 +0530 Tue, 25 Apr 2017 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97972 A statutory notice under section 46(5A) created an enforceable claim in liquidation where the company had acknowledged the liability before the limitation period expired, so the debt was not time-barred and could be proved against the company. Preferential status, however, was confined to the company's own tax dues to the Central Government; a claim arising from a direction to pay money due to another assessee did not qualify as a preferential tax debt. The claim was therefore admitted only as an ordinary unsecured debt, and preferential payment was refused. Case-Laws Companies Law Fri, 07 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97972