https://www.taxtmi.com/caselaws?id=762338 The Rajasthan HC allowed a writ petition challenging recovery proceedings under Section 179 of the Income Tax Act. The Revenue sought to recover outstanding dues from a director of what they treated as a private company. The court held that Section 179 applies only to private companies and directors of private companies. Since the company was incorporated as a public limited company and registered with the Registrar of Companies, and the Revenue failed to dispute this status, the proceedings were invalid. The petition was allowed as Section 179 does not apply to public limited companies. en-us Wed, 20 Nov 2024 00:00:00 +0530 Fri, 29 Nov 2024 08:16:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762338 The Rajasthan HC allowed a writ petition challenging recovery proceedings under Section 179 of the Income Tax Act. The Revenue sought to recover outstanding dues from a director of what they treated as a private company. The court held that Section 179 applies only to private companies and directors of private companies. Since the company was incorporated as a public limited company and registered with the Registrar of Companies, and the Revenue failed to dispute this status, the proceedings were invalid. The petition was allowed as Section 179 does not apply to public limited companies. Case-Laws Income Tax Wed, 20 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762338