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<h1>Directors not personally liable for company tax arrears. Court rules in favor of limited liability.</h1> The Allahabad HC held that arrears of tax from a Public Limited Company cannot be recovered from the personal assets of the Director. The petition was ... - The judgment from the Allahabad High Court states that arrears of tax from a Public Limited Company cannot be recovered from the personal assets of the Director. The petition is allowed, and the circular order dated 15th September, 1998 is quashed. The Court ruled that the recovery can only be made from the assets of the Company.
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