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2008 (9) TMI 5 - HC - Income TaxTDS collected but not deposited – prosecution - demand raised by treating the Company as the assessee in default – Company plea is that prosecution proceeding can be initiated only against those persons who were managing the affairs of company during the default – plea of petitioner is accepted – offence of a failure to deduct or remit the TDS is a one-time offence and not a continuing one - liability cannot be fastened on directors who joined company subsequent to commission of offence
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