1992 (10) TMI 154

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..... an application for impleading the Official Liquidator. The brief facts are that the respondent M/s. Sri Krishna Rajendra Mills Ltd. were the manufacturers of cotton fabrics etc. They filed classification list and claimed exemption under Notification Nos. 252/82 and 80/82 and obtained approval of the same. A Show Cause Notice was issued proposing to recover duty on the ground that duty is payable o .....

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..... 22 of CEGAT (Procedure) Rule, 1982. 2. When the Miscellaneous Petition came up for hearing a point was raised whether it is necessary to obtain the leave of the High Court which is taking up the winding up proceedings for impleading the Official Liquidator. On the above issue, the matter was adjourned. 3. Shri J.N. Nair, learned Departmental Representative appearing for the Department brought .....

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..... ined or quantified its realisation from a company in liquidation is governed by the Act because the income-tax payable also being a debt has to rank pari passu with other debts due from the company does not mean that the assessment proceedings for computing the amount of tax must be held to be such other legal proceedings as can only be started or continued with the leave of the liquidation court .....

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..... income-tax. 5. In other words, according to the Supreme Court Income-tax Act being a complete code with respect to the assessment and re-assessment of income tax and the realisation of tax after assessment is governed by the Act. Income tax payable being a debt has to rank pari passu with other debts due from the company does not mean that the assessment proceedings for computing the amount of .....

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..... r agreed with the Assistant Collector. Therefore, these are nothing but re-assessment proceedings. Therefore, the judgment of the Supreme Court is on all fours in the present case. Consequently, leave of the High Court winding up the company is not necessary for impleading the Official Liquidator. The Miscellaneous Application is allowed and the Official Liquidator is impleaded as party to the pro .....

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