https://www.taxtmi.com/caselaws?id=410406 The court held that Section 179 of the Income Tax Act, 1961 does not apply to ex-directors of public limited companies, restricting its scope to private limited companies. The show cause notice issued to ex-directors of a public limited company was deemed beyond jurisdiction. The impugned orders were quashed due to lack of evidence establishing the companies as private limited. The matter was remanded for reevaluation based on company documents, with directions for proper notices to be issued within three months. The petitioners were allowed to submit documents for reconsideration by the respondent within four weeks. en-us Mon, 12 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 21:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410406 The court held that Section 179 of the Income Tax Act, 1961 does not apply to ex-directors of public limited companies, restricting its scope to private limited companies. The show cause notice issued to ex-directors of a public limited company was deemed beyond jurisdiction. The impugned orders were quashed due to lack of evidence establishing the companies as private limited. The matter was remanded for reevaluation based on company documents, with directions for proper notices to be issued within three months. The petitioners were allowed to submit documents for reconsideration by the respondent within four weeks. Case-Laws Income Tax Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410406