Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Attachment and recovery from a company's bank account was challenged on the ground that the demand and adjudication were issued against a distinct juristic entity. The court held that where the show-cause notice and adjudication order were addressed to another company, the petitioner could not be fastened with that entity's dues absent any garnishee relationship or proved liability to pay amounts to the defaulter. It further held that common directorship alone is insufficient to lift the corporate veil for recovery, and such veil-piercing was impermissible on the pleaded facts. Consequently, the impugned recovery/attachment order was quashed and the petition was allowed with directions to appear before the authority. - HC
Attachment and recovery from a company's bank account was challenged on the ground that the demand and adjudication were issued against a distinct juristic entity. The court held that where the show-cause notice and adjudication order were addressed to another company, the petitioner could not be fastened with that entity's dues absent any garnishee relationship or proved liability to pay amounts to the defaulter. It further held that common directorship alone is insufficient to lift the corporate veil for recovery, and such veil-piercing was impermissible on the pleaded facts. Consequently, the impugned recovery/attachment order was quashed and the petition was allowed with directions to appear before the authority. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
