https://www.taxtmi.com/caselaws?id=165551 Trade tax dues of a public limited company could not be recovered from its directors personally in the absence of statutory authority or material showing fraud, misuse of corporate personality, or other grounds to pierce the corporate veil. The company's status as a sick industrial company did not itself justify personal recovery against directors. Because no prior investigation or relevant factual basis was shown to disregard the company's separate legal existence, enforcement against the directors' personal assets was impermissible. The authority could proceed against the company's assets and take further action only if proper grounds for lifting the corporate veil were established. en-us Wed, 27 Jul 2011 00:00:00 +0530 Sat, 13 Sep 2014 23:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165551 Trade tax dues of a public limited company could not be recovered from its directors personally in the absence of statutory authority or material showing fraud, misuse of corporate personality, or other grounds to pierce the corporate veil. The company's status as a sick industrial company did not itself justify personal recovery against directors. Because no prior investigation or relevant factual basis was shown to disregard the company's separate legal existence, enforcement against the directors' personal assets was impermissible. The authority could proceed against the company's assets and take further action only if proper grounds for lifting the corporate veil were established. Case-Laws VAT and Sales Tax Wed, 27 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165551