https://www.taxtmi.com/caselaws?id=29287 The appeal against the delayed payment of income-tax dues by a solvent company turned insolvent due to official liquidators' delays was dismissed. Despite efforts to sell properties and pay off liabilities, interest under the Companies Act was not condoned. The court upheld the trial judge's decision, emphasizing the unique circumstances and lack of grounds for interference. The judgment affirmed the trial judge's discretion in disallowing interest payment, recognizing the complexities of the case and the actions taken by the company and liquidators. en-us Fri, 19 Feb 1982 00:00:00 +0530 Fri, 12 Mar 2010 10:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29287 The appeal against the delayed payment of income-tax dues by a solvent company turned insolvent due to official liquidators' delays was dismissed. Despite efforts to sell properties and pay off liabilities, interest under the Companies Act was not condoned. The court upheld the trial judge's decision, emphasizing the unique circumstances and lack of grounds for interference. The judgment affirmed the trial judge's discretion in disallowing interest payment, recognizing the complexities of the case and the actions taken by the company and liquidators. Case-Laws Income Tax Fri, 19 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29287