https://www.taxtmi.com/caselaws?id=127257 The assessed balance of sales tax was treated as a debt due and payable only when the Commissioner quantified the liability and served the demand notice under the assessment machinery. Although the charging provisions fixed liability on taxable turnover, the unpaid balance remained unascertained until assessment, and payment with the return was only an interim estimate. On that basis, the court held that the balance answered the preferential debt test under section 230(1)(a) of the Indian Companies Act only from service of the demand notice, not from the return due date, and was entitled to priority in winding up. en-us Tue, 23 Dec 1952 00:00:00 +0530 Wed, 27 Nov 2013 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127257 The assessed balance of sales tax was treated as a debt due and payable only when the Commissioner quantified the liability and served the demand notice under the assessment machinery. Although the charging provisions fixed liability on taxable turnover, the unpaid balance remained unascertained until assessment, and payment with the return was only an interim estimate. On that basis, the court held that the balance answered the preferential debt test under section 230(1)(a) of the Indian Companies Act only from service of the demand notice, not from the return due date, and was entitled to priority in winding up. Case-Laws VAT and Sales Tax Tue, 23 Dec 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127257