https://www.taxtmi.com/article/detailed?id=5249 Winding up under Section 433(e) and Section 434 requires a crystallised, due and payable debt at the date of statutory demand and filing. Absent a specific contractual allocation or an admission, contested or unagreed service tax liabilities-being indirect taxes whose incidence can be allocated by agreement-do not ordinarily constitute a debt "due and payable" sufficient to support winding up proceedings. en-us Sat, 24 Aug 2013 07:53:08 +0530 Sat, 24 Aug 2013 07:53:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5249 Winding up under Section 433(e) and Section 434 requires a crystallised, due and payable debt at the date of statutory demand and filing. Absent a specific contractual allocation or an admission, contested or unagreed service tax liabilities-being indirect taxes whose incidence can be allocated by agreement-do not ordinarily constitute a debt "due and payable" sufficient to support winding up proceedings. Articles Corporate Laws / IBC / SEBI Sat, 24 Aug 2013 07:53:08 +0530 https://www.taxtmi.com/article/detailed?id=5249