Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

1931 (12) TMI 10

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ng stated the facts as set out above, continued : I think it is clear that the moneys, subject to any deduction for costs properly chargeable to the B contributories, must be refunded to them. Their liability to contribute is created by statute, and is restricted to so much of the amount left unpaid on their shares by their associated A contributories as does not exceed the balance of the debts an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d for meeting the claims of the creditors without unnecessary delay, and so long as there are assets undistributed in the liquidation it remains open to the Court to correct any mistakes or injustice due to unforeseen incidents arising in a prolonged and difficult administration. Accordingly I answer the first question in the summons in the negative, and in response to the second, I give the app .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... her moneys by reason of the introduction of those words "and final." I think a final call means that you are purporting to extract the last possible shilling that can be obtained from the contributories, and not the final call, because when you make it you hope that it will indeed be final. But that is a matter of procedure. I think it is right that he should be able to enforce this call to level .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates