https://www.taxtmi.com/caselaws?id=8998 The court held that the Income-tax Officer's notice was invalid as it sought to prioritize a non-preferential debt without court approval. The notice, issued under section 178 of the Income-tax Act, was deemed impermissible as it did not comply with the Companies Act's priority rules. The court quashed the notice, relieving the liquidator from the obligation to set aside funds for tax payment. Additionally, the court ruled in favor of the liquidator, awarding costs against the respondents. en-us Wed, 22 Mar 1972 00:00:00 +0530 Thu, 18 Jun 2009 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8998 The court held that the Income-tax Officer's notice was invalid as it sought to prioritize a non-preferential debt without court approval. The notice, issued under section 178 of the Income-tax Act, was deemed impermissible as it did not comply with the Companies Act's priority rules. The court quashed the notice, relieving the liquidator from the obligation to set aside funds for tax payment. Additionally, the court ruled in favor of the liquidator, awarding costs against the respondents. Case-Laws Income Tax Wed, 22 Mar 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8998