Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Section 179 cannot fasten unrecovered company tax on a director of an unlisted public company merely because shareholding is concentrated or shares were not publicly offered. Public or private status depends on the Memorandum and Articles of Association; lifting the corporate veil requires exceptional facts, which were absent. Liability also requires a finding that non-recovery was attributable to the director's gross neglect, misfeasance or breach of duty, assessed against the director's role in the non-recovery. Reliance on an undisclosed adverse statement while disregarding relevant material from the director breached natural justice. The order imposing the company's tax liability on the director was quashed.
Section 179 cannot fasten unrecovered company tax on a director of an unlisted public company merely because shareholding is concentrated or shares were not publicly offered. Public or private status depends on the Memorandum and Articles of Association; lifting the corporate veil requires exceptional facts, which were absent. Liability also requires a finding that non-recovery was attributable to the director's gross neglect, misfeasance or breach of duty, assessed against the director's role in the non-recovery. Reliance on an undisclosed adverse statement while disregarding relevant material from the director breached natural justice. The order imposing the company's tax liability on the director was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
