1954 (8) TMI 16

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....the shareholders of the District Syndicate Bulandshahr, Limited, a limited company incorporated under the Indian Companies Act. Sales tax has been assessed on this company for the assessment years 1948 and 1949. After the assessment, the Collector of Bulandshahr, who was entrusted with realising the amount of tax assessed as arrears of land revenue, is taking proceedings against the assets of thes....

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....ot personally liable for the debts or liabilities of the company. It does not appear to be necessary to refer to cases in which this principle has been clearly laid down as it has been very well recognised. In these circumstances, since the sales tax has been assessed on the company and not on the shareholders, the Collector is entitled to proceed against the assets of the company only and any pro....