TaxTMI 
TaxTMI 
2021 (3) TMI 1232
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.... the Assistant Commissioner of Income Tax, Corporate Circle 1 and 2, Coimbatore under Section 179 of the Income Tax Act, 1961. Details of the impugned order are as under:- W.P.Nos. Date Impugned Order passed by Defaulting company 22923 of 2018 25.06.2018 The Asst. Commissioner of Income Tax, Corporate Circle - 2, Coimbatore. M/s.Gangotri Textiles Ltd. 11880-81 of 2018 23.02.2018 The Asst. Commissioner of Income Tax, Corporate Circle-1, Coimbatore. NEPC Agro Food Ltd. 3. These orders are challenged by the petitioner primarily on the ground that invocation of Section 179 of the Income Tax Act, 1961 was without jurisdiction in as much as the assessee in default in the respective cases of which the petitioner by directors/sharehold....
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....54 of the Act. Further proceedings against the present appellants for recovery of the tax due from the company should not be taken. We, however, should not be understood as having in any way restricted the powers of the department to recover the amounts due from the company by other processes in accordance with law. We also make it clear that any amounts which might have been paid either by the appellants or by the company in the course of the proceedings now under challenge will not be liable to be refunded to the appellants. 5. The learned counsel for the petitioner further submits that the decisions of the Hon'ble Gujarat High Court in Pravinbhai M.Kheni Vs. The Assistant Commissioner of Income Tax & Others [2013] ITR Guj 353 585 is....
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.... placing strong reliance on the Doctrine of Piercing the Corporate Veil recognized by the Hon'ble Supreme Court of India in Commissioner of Income Tax, Madras -vs- Sri Meenakshmi Mills Ltd., (AIR 1967 SC 819) for tax evasion or to circumvent tax obligation which has been quoted with approval by the Constitution Bench of the Hon'ble Supreme Court of India in Life Insurance Corporation of India -vs- Escorts Ltd., [(1986) 1 SCC 264] and followed by the Division Benches of the High Court of Gujarat Pravinbhai M.Kheni -vs- Assistant Commissioner of Income-Tax, Central Circle - 2 (Judgment dated 06.11.2012 in Special Civil Application No.12254 of 2002) and Ajay Surendra Patel -vs- Deputy Commissioner of IncomeTax (Judgment dated 23.02.201....