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2018 (3) TMI 1024 - HC - Income TaxNon compliance with condition precedent u/s 179(1) - recovery of dues of the company from the directors - revision application u/s 264 rejected - attachment orders - Held that:- The condition precedent to recover the dues from the Petitioner i.e. a Director of the defaulting company is that the Revenue cannot recover its tax dues from the Directors. Thus the condition precedent to recover the dues from the Petitioner i.e. a Director of the defaulting company is that the Revenue cannot recover its tax dues from the defaulting limited company. In an identical fact situation, this Court had in the Chintan A. Shah v/s. Income Tax Officer (2018 (3) TMI 959 - BOMBAY HIGH COURT) had allowed the Petition on 22nd February, 2018. The Petitioner is the brother of Mr. Chinan Shah above and Directors of the same defaulting private company. Therefore, we set aside the impugned orders dated 2nd March, 2016 and 13th June, 2017 passed by the Assessing Officer and the Commissioner of Income Tax. However, it is made clear that the attachment of bank account by an order dated 3rd August, 2015 of the delinquent private limited company, would continue.
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