https://www.taxtmi.com/caselaws?id=336362 The Court set aside the orders under Section 179 and Section 264 of the Income Tax Act, 1961, and restored the matter to the Assessing Officer to determine the actual amount due from the defaulting company and the petitioner. The petitioner was directed to pay the admitted tax due of Rs. 5 lakhs by a specified date. Failure to comply would result in dismissal of the petition. The Court emphasized adherence to natural justice principles in further proceedings. en-us Tue, 13 Dec 2016 00:00:00 +0530 Tue, 20 Dec 2016 10:11:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336362 The Court set aside the orders under Section 179 and Section 264 of the Income Tax Act, 1961, and restored the matter to the Assessing Officer to determine the actual amount due from the defaulting company and the petitioner. The petitioner was directed to pay the admitted tax due of Rs. 5 lakhs by a specified date. Failure to comply would result in dismissal of the petition. The Court emphasized adherence to natural justice principles in further proceedings. Case-Laws Income Tax Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336362