Director Proves Lack Of Control On Financial Affairs: Bombay High Court Quashes Income Tax Recovery
1 year, 6 months ago

Director Proves Lack Of Control On Financial Affairs: Bombay High Court Quashes Income Tax Recovery

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The Bombay High Court has quashed the income tax recovery against the Director of a company on the grounds that the Director has sufficiently discharged the burden cast upon him in terms of Section 179 of the Income Tax Act.The bench of Justice K.R. The Bombay High Court has quashed the income tax recovery against the Director of a company on the grounds that the Director has sufficiently discharged the burden cast upon him in terms of Section 179 of the Income Tax Act. The petitioner has challenged the order passed by the Income Tax Officer under Section 179 of the Income Tax Act, 1961, holding the petitioner liable for taxes allegedly due from Kaizen Automation Pvt. The petitioner contended that orders have been passed in complete disregard for the later part of Section 179 of the Act, which provides for an exception that if the concerned Director proves that "non-recovery" cannot be attributed to any gross neglect, misfeasance, or breach of duty on his part in relation to the affairs of the company, then such Director cannot be held liable.

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