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1991 (2) TMI 331 - SC - Companies LawWhat is the ambit of the State's claim to priority in relation to revenues, taxes, cesses and rates, due from a company in liquidation? Held that:- Allow the appeal of the company in liquidation and direct the liquidator to re-examine the claim for priority in accordance with the interpretation of the provision, that is to say, he must first ascertain whether the liability to sales tax belongs to and is founded within the period of 12 months next before June 26, 1967, and as such due and payable but preserving, however, the order of the Division Bench in relation to the view it has taken about penalties.
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