De-notification of Customs Area and termination of Container Freight Station custodian and Customs Cargo Service Provider authority effective 07-01-20...
Transition support services from corporate spinoff for India business segment - TP adjustment deleted; comparables reassessed; goodwill depreciation, ...
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Directors cannot be made personally liable for a company's GST dues merely by virtue of office; recovery from their personal assets is permissible only if the statutory conditions for fastening vicarious liability are satisfied, including the requirements in Section 88(3) and an opportunity to show that non-recovery from the company was not due to their gross negligence, misfeasance or breach of duty. As the directors were not heard before their personal bank accounts were attached, the recovery notices were unsustainable. The HC set aside the attachments and remitted the matter for fresh consideration after receiving representations and granting a hearing.
Directors cannot be made personally liable for a company's GST dues merely by virtue of office; recovery from their personal assets is permissible only if the statutory conditions for fastening vicarious liability are satisfied, including the requirements in Section 88(3) and an opportunity to show that non-recovery from the company was not due to their gross negligence, misfeasance or breach of duty. As the directors were not heard before their personal bank accounts were attached, the recovery notices were unsustainable. The HC set aside the attachments and remitted the matter for fresh consideration after receiving representations and granting a hearing.
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