Liability of Director of (P) Ltd. Co. on Liquidation ::
Last updated: 07 September 2007
Court :
HC
Brief :
Held by hon"ble court that Sec.179 clearly requires that before initiating recovery actions against directors, it is necessary to establish that such recovery could not be made against the company.
Citation :
Indubhai T. Vasa Vs. I.T.O
Liability of Director of (P) Ltd. Co. on Liquidation
Indubhai T. Vasa Vs. I.T.O 3/22/2005
(2005) 146 Taxman163( GUJ)
Case Fact: Whether before initiating recovery action u/s 179 for dues of Pvt. Co against directors on liquidation , it is necessary to prove that recovery cannot be made against the company.
Decision: Held by hon"ble court that Sec.179 clearly requires that before initiating recovery actions against directors, it is necessary to establish that such recovery could not be made against the company.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 33
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