TaxTMI 
TaxTMI 
2002 (4) TMI 783
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....under section 518 of the Companies Act, 1956 ('the Act') is filed seeking the determination of amount of income-tax ^which may bepayable by the petitioner-company so as to repatriate the amount pursuant to the resolution of voluntary winding-up of the company passed on 10-7-2000 by the AGM of the shareholders of the company. It is also submitted that the only assets of the company are as under : ....
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....quidator or any creditor or contributory may apply to the Court specified in sub-section (3) for an order setting aside any attachment, distress or execution put into force against the estate or effects of the company after the commencement of the winding-up. (3) An application under sub-section (2) shall be made- (a )if the attachment, distress or execution is levied or put into force by a ....
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....o the shareholders. 3. Mr. Jolly who appears on behalf of the Income-tax Department, pursuant to the notice issued by this Court, has filed an affidavit of the Deputy Commissioner Circle 11(1), Income-tax Department, New Delhi quantifying the amount said to have been due from the company as income-tax including the tax on the interest earned on the fixed deposits. The amount quantified is Rs. 1....