https://www.taxtmi.com/caselaws?id=98041 Income tax liability becomes a provable debt in winding-up only after assessment and demand; before that, the revenue is not a creditor, contingent creditor, or prospective creditor required to prove a claim in liquidation. Pending income-tax assessment proceedings are also not "other legal proceedings" within section 446 of the Companies Act, 1956, because assessment under the Income-tax Act follows a special self-contained code and is not a proceeding the company court can entertain or transfer. On that reasoning, assessment could continue notwithstanding the winding-up order, and the writ petition failed. en-us Wed, 24 Oct 1962 00:00:00 +0530 Thu, 19 Jan 2012 10:20:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98041 Income tax liability becomes a provable debt in winding-up only after assessment and demand; before that, the revenue is not a creditor, contingent creditor, or prospective creditor required to prove a claim in liquidation. Pending income-tax assessment proceedings are also not "other legal proceedings" within section 446 of the Companies Act, 1956, because assessment under the Income-tax Act follows a special self-contained code and is not a proceeding the company court can entertain or transfer. On that reasoning, assessment could continue notwithstanding the winding-up order, and the writ petition failed. Case-Laws Companies Law Wed, 24 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98041