https://www.taxtmi.com/caselaws?id=99057 Under section 530(1)(a) of the Companies Act, "revenue" payable to a local authority was construed in context with "taxes, cesses and rates" and, applying noscitur a sociis, was limited to compulsory exactions. Amounts due for electricity supplied by a municipal licensee were held to be trade debts arising from commercial activity and not revenue entitled to priority in winding up. Electricity duty collected on behalf of the State Government was treated differently and retained priority status. en-us Tue, 18 Sep 1973 00:00:00 +0530 Wed, 25 Jan 2012 10:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99057 Under section 530(1)(a) of the Companies Act, "revenue" payable to a local authority was construed in context with "taxes, cesses and rates" and, applying noscitur a sociis, was limited to compulsory exactions. Amounts due for electricity supplied by a municipal licensee were held to be trade debts arising from commercial activity and not revenue entitled to priority in winding up. Electricity duty collected on behalf of the State Government was treated differently and retained priority status. Case-Laws Companies Law Tue, 18 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99057