https://www.taxtmi.com/caselaws?id=332650 The court set aside the order holding directors liable under Section 179 of the Income Tax Act and remanded the matter for a fresh decision. It emphasized the importance of considering all relevant factors before imposing personal liability on directors of a company, highlighting the need for a detailed examination to ensure fairness and due process in the proceedings. The judgment focused on the necessity to evaluate various aspects, including the applicability of Section 179 to public companies and the considerations involved in lifting the corporate veil in income tax cases. en-us Mon, 19 Sep 2016 00:00:00 +0530 Thu, 22 Sep 2016 13:04:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332650 The court set aside the order holding directors liable under Section 179 of the Income Tax Act and remanded the matter for a fresh decision. It emphasized the importance of considering all relevant factors before imposing personal liability on directors of a company, highlighting the need for a detailed examination to ensure fairness and due process in the proceedings. The judgment focused on the necessity to evaluate various aspects, including the applicability of Section 179 to public companies and the considerations involved in lifting the corporate veil in income tax cases. Case-Laws Income Tax Mon, 19 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332650