Wound up company intending to clear pending Income tax dues, permitted to pay dues in installments

Mahalakshmi Textile Mills Limited Vs DCIT (Madras High court)

Madras High Court held that as the petitioner company is wound up, however, intention of petitioner for clearing the pending dues is sincere. Writ petition is allowed permitting the petitioner to pay pending dues in equal installments.

Facts- The petitioner company had been wound up by orders in C.P.No.68 of 1985. The official liquidator had been appointed to take charge of the affairs of the company and as a result any legal proceeding ini

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