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2016 (12) TMI 805 - HC - Income TaxLiability of directors of private company in liquidation - Held that:- The search was made in the premises of the company in the year 1997 and the block assessment was made for the block period 1986-97 and for some of the period the company was Private Ltd. and for some of the period the company was Public Ltd. The same argument has also been advanced by the learned counsel for the petitioner. He, therefore, submits that provisions of Section 179 are not applicable. As considered the submissions of the learned counsel for the parties. The petitioner has an alternative remedy to file a revision before the Commissioner under Section 264 of the Income Tax Act. The plea that the provision of Section 179 are not applicable in the case of the petitioner can be raised by the petitioner before the revisional authority.
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