1982 (2) TMI 44

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....gment and order dated April 16, 1980-See [1981] 130 ITR 790 ; 51 Comp Cas 572 (Cal) passed by Salil K. Roy Chowdhury J., in an application made on behalf of a company (in liquidation). The said company, Haralal Harendra Lal Roy Estate Limited was a solvent company and, as pointed out by the learned trial judge, became insolvent due to laches of succeeding official liquidators in payment of income-....

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....ath of Air. S. N. Bhattacharyya. By another order dated 17th December, 1962, the official receiver was discharged and the official liquidator of this court was appointed the official liquidator of the said company. Mr. Dhiren Dey, a member of the Bar, was appointed as special officer by an order dated 10th April, 1961, to frame a scheme of partition of the assets of the company amongst the contrib....

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.... of the buildings belonging to the company was being distributed after meeting the expenses like corporation taxes, etc., to the contributories of the company in terms of the order of this court. In these circumstances, the income-tax demands raised from time to time could not be paid. Large amounts were found to have been defalcated by the officers and the employees of the official liquidator out....

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....nterest payable by the company to the Revenue. But after quite a considerable time, the said negotiations fell through as the I.T. authorities were unwilling to purchase the said house. The present case, as has been held by the learned trial judge, is an unfortunate one and peculiar, inasmuch as for no fault of the contributories who are the only beneficiaries in the winding-up of the cornpany mos....