Section 179 Liability Notice for Directors in Liquidation Lacks Detail; Department to Reassess and Review Process.

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Full Text of the Document

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....Liability of directors of private company in liquidation u/s 179 - Notice is totally silent as regards the satisfaction of the condition precedent for taking action u/s 179 - we would like to give one chance to the department to undertake a fresh exercise so far as Section 179 is concerned.....