9911796707
TMI Blog1986 (10) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal was right in law in holding that the provisions of section 220(1) of the Income-tax Act, 1961, were inoperative in the case of a company which was in liquidation by the orders of the winding-up court ? 2. Whether the Appellate Tribunal was right in law in holding that interest under section 220(2) of the Income-tax Act, 1961, was not chargeable in the case of the assessee-comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch had gone into liquidation by the orders of this court. The official liquidator claimed that section 446(1) of the Companies Act, 1956, read with rule 179 of the Companies (Court) Rules, 1959, prohibited the charging of interest under section 220(2) of the Act, after the date of the winding-up order. The Income-tax Officer did not agree with the contention of the assessee-company and held that r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The official liquidator then filed a second appeal before the Incometax Appellate Tribunal. The Tribunal placed reliance on the decisions of the hon'ble Supreme Court in S. V. Kondaskar, social Liquidator of the Colaba Land Mills Co. Ltd. v. V. W. Deshpande, ITO [1972] 83 ITR 685 and Union of India v. India Fisheries (P) Ltd. [1965] 57 ITR 331. The Tribunal, placing reliance on the above Suprem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application for making a reference and the Tribunal has referred the above questions of law for the opinion of this court. Mr. Surolia, learned counsel for the Revenue, was unable to show any later decision of the Hon'ble Supreme Court taking a different view from the view already taken in the cases of S. V. Kondaskar v. V. M. Deshpande [1972] 83 ITR 685 and Union of India v. India Fisheries (P) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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