1984 (2) TMI 63

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....d company called Advent Corporation Pvt. Ltd. The company carries on the business of construction of buildings and the sale of flats therein. For the assessment years 1961-62 to 1968-69 the company contended that no profit arose upon the construction by it of buildings until the entire construction work was completed. This argument was rejected by the ITO and a percentage of the cost of work do....

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..... It was also submitted that the provisions of s. 179 could not be invoked because it was not proved that the non-recovery of tax was attributable to gross negligence, misfeasance or breach of duty on the part of the petitioner in relation to the affairs of the company. On April 12, 1979, the ITO held that the petitioner was personally liable for payment of the company's taxes in the sum of Rs.....

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....nt to the order under s. 179, the Tax Recovery Officer attached certain properties of the petitioner. This petition filed on August 22, 4980, impugns the order under s. 179 and the attachments made pursuant thereto. The first submission made on behalf of the petitioner must be upheld because it is covered in his favour by my judgment dated January 11, 1983, in Miscellaneous Petition No. 1432 of....

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....ith such tax liability under s. 179. The judgment in Lotlikar's case [1984] 145 ITR 433 (Bom), squarely applies to the facts of this petition and as a ground for striking down the order under s. 179 and the attachments consequential thereon. It was then contended on behalf of the petitioner that the ITO bad not determined the precondition for the application of s. 179 the ITO had not even consi....