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2014 (3) TMI 390 - HC - Income TaxPersonal liability of directors due to negligence on their part - Deemed public limited company - Application of section 179 - company had ceased to be a private company by virtue of provisions of section 43A of the Companies Act – Held that:- It was not a case of the Assessing Officer that the facts asserted by the petitioner were not correct or that for any other reason, the company had not become a deemed public company under section 46A of the Companies Act, 1956. – the decision in M. Rajamoni Amma and another v. Deputy Commissioner of Income tax (Assessment) and others [1992 (2) TMI 3 - SUPREME Court] followed. The Company being a public limited company, proceedings against the directors for recovery of the tax due from the company cannot be taken, and certainly not proceeded with, under Section 179 of the Income Tax Act, 1961. - Decided in favour of Assessee.
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