Court Quashes Order Against Company Directors u/s 179 of Income Tax Act for Lack of Consideration.

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....Liability of directors of private company - validity of order u/s 179 - The order which has been passed by the authority is without dealing with the basic elements of Section 179 of the Income Tax Act and the same being suffering from the vice of non-application of mind, we may deem it proper to quash the same, of course with liberty to the respondent authority to pass a fresh order - HC....