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VAT - Highlights / Catch Notes

Home Highlights July 2018 Year 2018 This

Liability to pay certain sums on the petitioners in their ...

VAT and Sales Tax

July 16, 2018

Liability to pay certain sums on the petitioners in their capacity as Directors - The existence of a Director and the company is independent of each other. Unlike a partnership firm, the company does not cease to exist merely because persons like the petitioners are not associated with it.

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  2. Dishonour of Cheque - existence of legally enforceable debt or liability - vicarious liability of nominee and non-executive directors - The contention does not cut much...

  3. Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

  4. Rent paid by director of the company in her individual capacity - directors serve as agents - any transaction carried out by the directors on behalf of the company is a...

  5. Disallowance of remuneration to Directors - Although no revenue receipts are generated during the year, however, the company is in existence and has started generating...

  6. The commission was paid to Managing Director and Director (Operations) as per their terms of appointment as is apparent from Board Resolution - claim of expenditure allowed - AT

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  10. Disqualifications for appointment of director - certain disqualifications to continue to apply even if appeal or petition is filed - Section 164(3) of the Companies Act, 2013

 

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