1954 (8) TMI 33 - HC - VAT and Sales Tax

Summary

The High Court of Allahabad ruled in favor of the shareholders of a limited company, stating that the Collector cannot proceed against their personal assets for sales tax assessed on the company. Shareholders are not personally liable for company debts. A writ of mandamus was issued to the Collector to refrain from taking action against the shareholders' personal assets. The petitioners were awarded costs.