https://www.taxtmi.com/caselaws?id=163606 The court ruled in favor of the petitioners, stating that recovery of trade tax dues from the personal assets of directors is not permissible unless there is evidence of fraudulent transfer of funds or personal guarantee. The court emphasized that directors' liability is limited by shares under the Companies Act and restrained the respondents from pursuing such recovery. The writ petition was allowed in favor of the petitioners. en-us Tue, 13 Feb 2007 00:00:00 +0530 Sat, 05 Apr 2014 12:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163606 The court ruled in favor of the petitioners, stating that recovery of trade tax dues from the personal assets of directors is not permissible unless there is evidence of fraudulent transfer of funds or personal guarantee. The court emphasized that directors' liability is limited by shares under the Companies Act and restrained the respondents from pursuing such recovery. The writ petition was allowed in favor of the petitioners. Case-Laws VAT and Sales Tax Tue, 13 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163606