9911796707
TMI Blog1990 (3) TMI 61X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tax Recovery Officer, Bombay, under section 179 of the Income-tax Act, 1961. Briefly stated, the relevant facts are that the petitioner became a director of a private limited company known as Kapadia Construction Company Pvt. Ltd. on November 30, 1966. The income-tax assessments of the said company for the assessment years 1970-71 to 1973-74 were completed and certain demands were raised. The d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m as a defaulter in respect of an amount of Rs. 27,67,668 which was stated to be the taxes due from the company. By an order of attachment dated December 28, 1983, the Tax Recovery Officer attached the petitioner's residential flat in a building known as "Mount Unique" on G. Deshmukh Marg, Bombay-26. Thereafter, the petitioner approached the Commissioner by an application dated February 21, 1984, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s judgments in Union of India v. Manik Dattatreya Lotlikar [1988] 172 ITR 11, and Union of India v. Praveen D. Desai [1988] 173 ITR 303. It was pointed out that the question is pending before the Supreme Court. Be that as it may, the judgments of this court still hold the field and, therefore, following those decisions, it has to be held that section 179 of the Act as amended is retrospective in o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petitioner's statement that he had ceased to be a director of the said company from February, 1967, Dr. Balasubramaniam read out from the affidavit-in-reply, a copy of which was in his hand, an averment which was found to be that the Income-tax Officer had made enquiries in the office of the Company Law Board and from the records of the company maintained in that office, the petitioner, it appear ..... X X X X Extracts X X X X X X X X Extracts X X X X
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