Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

As per S. 179(1) a director cannot be held liable for ...


Directors Not Liable for Interest or Penalties u/s 179(1); Not Considered Assessees u/s 2(7).

June 6, 2013

Case Laws     Income Tax     HC

As per S. 179(1) a director cannot be held liable for interest/penalty and thereupon be treated as an assessee u/s 2(7) as a person by whom any tax or any other sum of money is payable - HC

View Source

 


 

You may also like:

  1. The case involves penalty imposition u/s 272A(1)(d) for non-compliance with statutory notices issued u/ss 143(2) and 142(1). Assessee explained non-compliance due to a...

  2. Section 12(1)(b) of the Prevention of Money Laundering Act, 2002 requires reporting entities to furnish information about transactions referred to in Section 12(1)(a) to...

  3. Recovery of dues u/s 179(1) - seeking recovery of unpaid tax of the said company and penalty under section 271(1)(c) of the Act of the same company from the director - A...

  4. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

  5. Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial...

  6. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  7. Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer...

  8. Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to...

  9. Source of Income of Public Servant or Ostensible Owner - Addl. CIT - Abuse of official position, as public servant - possession of disproportionate assets - This Court...

  10. Income accrued in India - taxation of interest income - assessee is a company incorporated and fiscally domiciled in the Republic of Japan - For interplay of Article...

  11. Joint and several liability to make payment u/s 179(1) – Liability of directors – In the absence of any finding that non recovery of the tax due from the company can be...

  12. Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

  13. Denial of exemption u/s 11 was challenged due to alleged violations of Sections 13(1)(d), 13(2)(h), and 13(1)(c) of the Income Tax Act. The key points are: Section...

  14. The case pertains to the levy of service tax under the reverse charge mechanism (RCM) on rental payments made by a company to its directors for renting immovable...

  15. The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

 

Quick Updates:Latest Updates