https://www.taxtmi.com/caselaws?id=284010 Under the Special Courts Act, the sale of attached shares was treated as a disposal mechanism under section 11(1), distinct from distribution of realised assets under section 11(2). The Court held that sale need not wait for final adjudication of all claims, including tax claims and priority disputes, because those matters arise at the distribution stage. It also clarified that "taxes due" means assessed tax presently payable. The Scheme was approved with safeguards preserving judicial supervision over bulk shares and controlling blocks, including court approval, sealed offers, and public bids where necessary. en-us Thu, 17 Aug 2000 00:00:00 +0530 Wed, 23 Oct 2019 15:01:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284010 Under the Special Courts Act, the sale of attached shares was treated as a disposal mechanism under section 11(1), distinct from distribution of realised assets under section 11(2). The Court held that sale need not wait for final adjudication of all claims, including tax claims and priority disputes, because those matters arise at the distribution stage. It also clarified that "taxes due" means assessed tax presently payable. The Scheme was approved with safeguards preserving judicial supervision over bulk shares and controlling blocks, including court approval, sealed offers, and public bids where necessary. Case-Laws Indian Laws Thu, 17 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284010