https://www.taxtmi.com/caselaws?id=333347 The court set aside the order for recovery of unpaid taxes against the petitioner, a Director of a Public Limited Company, due to insufficient grounds provided by the revenue for lifting the corporate veil and applying Section 179 of the Income Tax Act, 1961. The court emphasized the necessity for the revenue to establish valid reasons before invoking Section 179 against a Director of a public limited company. The judgment allowed the revenue to commence fresh proceedings with proper notice and adherence to legal procedures, while preserving all contentions and objections of the petitioners for future consideration. en-us Mon, 03 Oct 2016 00:00:00 +0530 Tue, 31 Jan 2017 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333347 The court set aside the order for recovery of unpaid taxes against the petitioner, a Director of a Public Limited Company, due to insufficient grounds provided by the revenue for lifting the corporate veil and applying Section 179 of the Income Tax Act, 1961. The court emphasized the necessity for the revenue to establish valid reasons before invoking Section 179 against a Director of a public limited company. The judgment allowed the revenue to commence fresh proceedings with proper notice and adherence to legal procedures, while preserving all contentions and objections of the petitioners for future consideration. Case-Laws Income Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333347