2020 (6) TMI 438 - SCH - Income Tax

Liability 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 - Application for extension of time is allowed till 31.07.2020. However, if for any reason whatsoever, the entire amount is not deposited, the Special Leave Petition will stand dismissed without further reference to the Court.

Summary

The Supreme Court allowed an extension of time until 31.07.2020 for the petitioner. Failure to deposit the entire amount will result in the dismissal of the Special Leave Petition without further reference to the Court.