https://www.taxtmi.com/caselaws?id=762351 The court ruled in favor of the petitioner, a former director, by quashing the attachment notice that froze his bank accounts for recovering VAT dues of a private limited company. The court determined that the liability of a director under the Punjab Value Added Tax Act, 2005, arises only after the company is wound up, and no such proceedings were initiated against the company. The attachment was deemed unauthorized, and the court awarded Rs. 1 lac as penal cost for the wrongful attachment, directing the respondent authorities to pay within two months, with interest at 18% if delayed, recoverable from the responsible officer. The writ petition was allowed, and all pending applications were disposed of. en-us Thu, 14 Nov 2024 00:00:00 +0530 Sat, 30 Nov 2024 08:41:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762351 The court ruled in favor of the petitioner, a former director, by quashing the attachment notice that froze his bank accounts for recovering VAT dues of a private limited company. The court determined that the liability of a director under the Punjab Value Added Tax Act, 2005, arises only after the company is wound up, and no such proceedings were initiated against the company. The attachment was deemed unauthorized, and the court awarded Rs. 1 lac as penal cost for the wrongful attachment, directing the respondent authorities to pay within two months, with interest at 18% if delayed, recoverable from the responsible officer. The writ petition was allowed, and all pending applications were disposed of. Case-Laws VAT / Sales Tax Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762351