https://www.taxtmi.com/caselaws?id=98964 The court held that income tax could be considered an expense of the winding-up if incurred in the course of the beneficial winding-up of the company's business. It concluded that advance tax could be classified as an expense of the winding-up and that the official liquidator could retain the amount payable. The court rejected the argument that the Income-tax Officer should wait until the close of the year for income tax assessment, granting the leave applied for without ordering costs. en-us Fri, 11 Feb 1972 00:00:00 +0530 Tue, 24 Jan 2012 16:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98964 The court held that income tax could be considered an expense of the winding-up if incurred in the course of the beneficial winding-up of the company's business. It concluded that advance tax could be classified as an expense of the winding-up and that the official liquidator could retain the amount payable. The court rejected the argument that the Income-tax Officer should wait until the close of the year for income tax assessment, granting the leave applied for without ordering costs. Case-Laws Companies Law Fri, 11 Feb 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98964