https://www.taxtmi.com/caselaws?id=6741 Income-tax arrears were not entitled to preferential payment in winding up because section 530(1)(a) of the Companies Act, 1956 grants priority only to taxes that became due and payable within the twelve months immediately preceding the relevant winding-up date. A merely unpaid antecedent tax liability does not satisfy that requirement, so the claim was admissible only as an ordinary unsecured debt. Section 178 of the Income-tax Act, 1961 did not alter that result, as it was treated as dealing with a different subject and no notice had been issued to the official liquidator. The preferential payment claim was therefore rejected. en-us Sun, 26 Sep 1965 00:00:00 +0530 Sun, 01 Feb 2009 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6741 Income-tax arrears were not entitled to preferential payment in winding up because section 530(1)(a) of the Companies Act, 1956 grants priority only to taxes that became due and payable within the twelve months immediately preceding the relevant winding-up date. A merely unpaid antecedent tax liability does not satisfy that requirement, so the claim was admissible only as an ordinary unsecured debt. Section 178 of the Income-tax Act, 1961 did not alter that result, as it was treated as dealing with a different subject and no notice had been issued to the official liquidator. The preferential payment claim was therefore rejected. Case-Laws Income Tax Sun, 26 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6741