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2021 (3) TMI 1023 - HC - VAT and Sales TaxCompounded rate of tax - ceiling limit of ₹ 50,00,000/- was breached - lifting of Corporate Veil - fraudulent transfer of properties - HELD THAT:- The properties that were purchased by Saraswathy way back in the year 1981-1984 cannot of course be proceeded against. Likewise there is no question of passing any Garnishee order against M/s.MRF Limited as far as M/s.Sree Saraswathy Tyres is concerned - However till the liability as mentioned is liquidated by Saraswathy, the attachment order in respect of Saraswathy's immovable properties will remain. It is open to Saraswathy to pay the monetary value and get them raised. The assessing authority is directed to effect recovery of the sales tax arrears of M/s.Iyyappa Tyres in terms of the undertaking now given by Tmt.M.Saraswathy before this Court - Petition allowed.
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