Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of Section 179 of the Income Tax Act empowers tax authorities to recover outstanding dues from directors of private companies during the relevant previous year. The latter part casts a negative onus on directors to prove non-recovery was not due to gross neglect, misfeasance, or breach of duty. In this case, the company was incorporated as a public limited company, and the revenue authorities failed to dispute this status while initiating proceedings u/s 179. Consequently, the High Court held that Section 179 is inapplicable to public limited companies, and the writ petition was allowed.
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