https://www.taxtmi.com/caselaws?id=272917 Advance income-tax demanded under Section 18A was treated as a tax in the accepted sense, and liability became enforceable when statutory demand was served and the amount became payable under the income-tax scheme. On that basis, the demand, having arisen within twelve months before the winding up order, attracted priority under Section 230(1)(a) of the Companies Act. A later final assessment after the winding up order did not defeat that preferential claim, because the material date for priority was the winding up order and any excess on final assessment would only affect refund consequences. The State's priority claim was therefore upheld. en-us Tue, 10 Nov 1953 00:00:00 +0530 Thu, 24 May 2018 17:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272917 Advance income-tax demanded under Section 18A was treated as a tax in the accepted sense, and liability became enforceable when statutory demand was served and the amount became payable under the income-tax scheme. On that basis, the demand, having arisen within twelve months before the winding up order, attracted priority under Section 230(1)(a) of the Companies Act. A later final assessment after the winding up order did not defeat that preferential claim, because the material date for priority was the winding up order and any excess on final assessment would only affect refund consequences. The State's priority claim was therefore upheld. Case-Laws Income Tax Tue, 10 Nov 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272917