1 The Imperial Chit Funds (P) Ltd. is a private company which was wound up as per orders dated 1-6-1973 of this Court on C P. No. 7 of 1973 filed by a creditor. After winding up commenced, proceedings for assessment for the year 1972 73 were finalised by the Income Tax Officer by his order dated 31-3-1975. A sum of Rs. 934 was assessed as tax payable by the Company and Rs. 93/- as interest payable under S.220(2) of the Income Tax Act. The total amount thus payable was Rs 1,027/-. The Official Liquidator of the Company intimated the Income Tax Officer by his letter dated 8 5 1975 that tax and interest constituted a debt provable in the winding up proceedings and he was not in a position to pay the amounts straight away. The tax was due and payable within twelve months before the relevant date mentioned in S.530(b)(c) of the Companies Act - vide S.530(1)(a) of the Act. A notice to pay the amount was received from the Tax Recovery Officer on 8-12-1976; whereupon, the Official Liquidator filed Report No. 53 seeking the direction of Court that the tax claimed is not payable at this stage, as the Income Tax Officer will have to wait and prove his claim when the list of creditors is set