JUDGMENT

Paripoornan, J.-The appellant herein is M/s. Imperial Chit Funds Private Limited, a company in liquidation, represented by the Official Liquidator, High Court of Kerala. The respondent is the Income Tax Officer, Ernakulam (the Revenue). The Liquidator has filed this appeal from the order passed by a Full Bench of the High Court of Kerala dated 10.8.1978 and rendered in report No. 53 in C.P. No. 7 of 1973. In the said report the Official Liquidator prayed that orders may be passed holding that income tax claimed by the revenue is not payable at that stage, and that the Income Tax Officer should wait and prove his claim before the Official Liquidator when the list of creditors is settled. The Full Bench, by the Judgment appealed against, negatived the said prayer made by the Official Liquidator in his report. It is against the aforesaid judgment the Official Liquidator representing the Imperial Chit Funds Private Limited has come up in appeal.

2. The Imperial Chit Funds Pvt. Ltd. is a private company. It was wound up as per orders passed by the High Court dated 1.6.1973 in C.P. No. 7 of 1973. After the commencement of the winding up proceedings the Income Tax Officer finalised