CHAKRAVARTTI, C.J. - This is a reference under Chapter V, Rule 2, of the Original Side Rules of a question of law under the Bengal Finance (Sales Tax) Act, 1941, read with the Indian Companies Act. The learned referring Judge, Banerjee, J., has framed the question in the following words :-

"Whether sales tax is to be treated as a preferential debt within the meaning of Section 230 of the Indian Companies Act - from which date ? From the date of demand or the date when the sale price is received, or any other date ?"

The question is not very precisely worded, but its true nature, or that of so much of it as is involved in the present case, will appear from the following facts.

On the 23rd May, 1950, certain creditor of a private limited company, called Messrs Recols (India) Ltd., applied for its liquidation and the application was admitted on the 25th May, 1950, when an order for the appointment of a provisional liquidator was also made. A winding-up order was next made on the 18th July, 1950, and Mr. S. N. Bhattacharya, a Barrister-at-Law practising in this Court, was appointed Official Liquidator. The Liquidator had the list of creditors settled and made some realisations