9911796707
TMI Blog2016 (12) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... made for the block period 1986-97 and for some of the period the company was Private Ltd. and for some of the period the company was Public Ltd. The same argument has also been advanced by the learned counsel for the petitioner. He, therefore, submits that provisions of Section 179 are not applicable. As considered the submissions of the learned counsel for the parties. The petitioner has an alter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was one of the Directors of company, namely, Yogi Pharmacy Ltd. On 02.07.1986, the said company was incorporated under the provisions of Companies Act, 1956, as a Private Ltd. Company. It was converted into Public Ltd. Company on 22.05.1992. A search and seizure operation was carried out on 26.02.1997 in Yogi Group of Companies, including Yogi Pharmacy Ltd. Consequent thereto, assessments order un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... control or power on the company. In the year 1999, petitioner ceased to be a Director of the Yogi Pharmacy Ltd. (A Public Ltd. Company). After ceasing to be a Director and consequent to the company being in liquidation, the petitioner was having no communication whatsoever with the Income Tax Authorities. Surprisingly, the petitioner received a notice under Section 179(1) on 19.06.2015, whereby th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. A preliminary objection has been raised by Mr. H.M. Bhatia, learned counsel for the respondent regarding maintainability of the writ petition. He submits that the petitioner has an alternative remedy to file revision before the Commissioner under Section 264 of the Income Tax Act. 4. Besides above, learned counsel for the respondent also submits that the search was made in the premises of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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