recovery of penalty imposed on the director from the refund of company https://www.taxtmi.com/forum/issue?id=110925 A director's personal penalty cannot be recovered from a company's excise refund because the company and its directors are distinct legal persons; recovery requires the director's consent or voluntary payment by the company. By contrast, a penalty on a partner may be adjusted against refunds payable to a partnership firm, while LLPs are treated as companies and do not permit recovery of partner penalties from the LLP's refunds. en-us Mon, 19 Sep 2016 10:42:29 +0530 Thu, 23 Jan 2025 15:56:11 +0530 TaxTMI RSS Generator recovery of penalty imposed on the director from the refund of company https://www.taxtmi.com/forum/issue?id=110925 A director's personal penalty cannot be recovered from a company's excise refund because the company and its directors are distinct legal persons; recovery requires the director's consent or voluntary payment by the company. By contrast, a penalty on a partner may be adjusted against refunds payable to a partnership firm, while LLPs are treated as companies and do not permit recovery of partner penalties from the LLP's refunds. Discussion-Forum Central Excise Mon, 19 Sep 2016 10:42:29 +0530 https://www.taxtmi.com/forum/issue?id=110925