1984 (3) TMI 36

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..... and 1976-77, the respondent (Income-tax Officer) effected assessments. Those were finally decided by the Appellate Tribunal. Notices of demand were served in pursuance thereto. The official liquidator remitted the amounts on April 27, 1981, after obtaining sanction of this court.. The amounts due as per the notices of demand were Rs. 20,559 and Rs. 16,963 towards the tax payable for the years 197 .....

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..... der s. 220(2) of the I.T. Act are unsustainable. Previous sanction of this court, enjoined by s. 446 of the Companies Act, was not obtained. The banking company is being wound up. There should have been sanction of this court before any order levying interest is passed or steps taken to levy interest. For claiming interest, the requirements of s. 446(2) of the Companies Act have not been followed. .....

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