Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Section 24(5) permits recovery of company tax dues from directors of a private company in liquidation only after recovery from the company itself has become impossible, including where recovery is barred by insolvency or no assets remain. Before attaching directors' bank accounts, the tax authority must disclose the foundational basis for alleging gross negligence, misfeasance or breach of duty, so that directors get an opportunity to object. Because the notice failed to state that basis, the bank attachment was not compliant with the statute and was set aside, with liberty to proceed afresh in accordance with the section.
Section 24(5) permits recovery of company tax dues from directors of a private company in liquidation only after recovery from the company itself has become impossible, including where recovery is barred by insolvency or no assets remain. Before attaching directors' bank accounts, the tax authority must disclose the foundational basis for alleging gross negligence, misfeasance or breach of duty, so that directors get an opportunity to object. Because the notice failed to state that basis, the bank attachment was not compliant with the statute and was set aside, with liberty to proceed afresh in accordance with the section.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
