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2020 (2) TMI 971 - SCH - Income TaxLiability of directors of private company in liquidation u/s 179 - Recovery proceedings - argument is that instead of recovering the aforesaid amount in tune with the provisions of Section 179 the Department proceeded to put the immovable properties to auction - HELD THAT:- We issue notice in the petition. The principal tax due (in respect of the auction of these nine properties) being ₹ 1.33 crores, we direct that Shri Gulati’s client deposits the same within three weeks from today with the Registry of this Court which amount shall be invested in short term fixed deposit of a nationalised Bank. In the meanwhile, auction sales that have been made not to be confirmed.
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