https://www.taxtmi.com/caselaws?id=165552 The court allowed the writ petition filed by former directors of a company, ruling that the recovery of outstanding trade tax liability from their personal assets was not justified. The court emphasized that directors should not be held personally liable for a company's debts unless specific statutory provisions apply or the doctrine of piercing the corporate veil is warranted. As there was no evidence of misuse of company assets by the directors, the recovery from their personal assets was deemed inappropriate, allowing the Trade Tax Department to pursue recovery from the company's assets if found in the directors' possession. en-us Wed, 07 Oct 2009 00:00:00 +0530 Fri, 01 Aug 2014 11:14:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165552 The court allowed the writ petition filed by former directors of a company, ruling that the recovery of outstanding trade tax liability from their personal assets was not justified. The court emphasized that directors should not be held personally liable for a company's debts unless specific statutory provisions apply or the doctrine of piercing the corporate veil is warranted. As there was no evidence of misuse of company assets by the directors, the recovery from their personal assets was deemed inappropriate, allowing the Trade Tax Department to pursue recovery from the company's assets if found in the directors' possession. Case-Laws VAT and Sales Tax Wed, 07 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165552