https://www.taxtmi.com/caselaws?id=101371 The Supreme Court clarified that the company court cannot assess tax liabilities during liquidation but is limited to determining debt payments. It found no violation of natural justice in assessment proceedings and examined the validity of assessment orders for specific years. The court emphasized that the Income-tax Act matters should be handled by statutory authorities or higher courts, not the company court. The judgment set aside the initial order, directing a fresh consideration in the company court regarding debt recovery, with each party bearing its costs. en-us Tue, 11 Nov 1986 00:00:00 +0530 Thu, 09 Feb 2012 15:40:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101371 The Supreme Court clarified that the company court cannot assess tax liabilities during liquidation but is limited to determining debt payments. It found no violation of natural justice in assessment proceedings and examined the validity of assessment orders for specific years. The court emphasized that the Income-tax Act matters should be handled by statutory authorities or higher courts, not the company court. The judgment set aside the initial order, directing a fresh consideration in the company court regarding debt recovery, with each party bearing its costs. Case-Laws Companies Law Tue, 11 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101371