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TMI Blog2021 (10) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;) therein are in the regular Board before me today. Read this in conjunction with and in continuation of earlier proceedings made in the previous listing before me on 02.09.2021, which reads as follows: 'Mr.S.Sivaraman, learned counsel on record for writ petitioner and Ms.Hema Muralikrishnan, learned Senior Standing counsel (Revenue counsel) for respondents are before this virtual Court. 2. Learned Revenue counsel submits that she has got written instructions and requests for a short accommodation to file the same in the form of counter affidavit. Request acceded to. Learned Revenue counsel to share a copy of counter affidavit with learned counsel for writ petitioner before the next listing. List on 13.09.2021. To be noted, ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 58D/179(1)/2018-19 (senior WP) and PAN:AACPK6932H/179(1)/2018-19 (junior WP), have been called in question. These two proceedings shall hereinafter be referred to as 'impugned proceedings' in plural and 'impugned proceeding' in singular for the sake of convenience and clarity. 6. Impugned proceedings pertain to recovery of tax arrears of said Company in the hands of Directors under Section 179(1) of 'Income Tax Act, 1961' (hereinafter 'IT Act' for the sake of brevity). For the sake of convenience and clarity, this Court deems it appropriate to extract and reproduce the impugned orders and the same read as follows: 7. Notwithstanding very many averments and very many grounds raised in the writ affidavit, lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany in respect of any income of any previous year or from any other company in respect of any income of any previous year during which such other company was a private company] cannot be recovered, then, every person who was a director of the private company at any time during the relevant previous year shall be jointly and severally liable for the payment of such tax unless he proves that the non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company. [(2)] Where a private company is converted into a public company and the tax assessed in respect of any income of any previous year during which such company was a private company cannot be recovered, then, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsel adverting to Clause 12 of Compromise decree submitted that Clause 12 of Compromise decree talks about vacant land tax building and the payment of the same is only when the Income Tax arrears is cleared. My attention was drawn to Clause 7 of Memorandum of Compromise, which reads as follows: '7.The second party shall execute a guarantee to the first party to clear their income tax and sales tax as stated above.' 14. All this in the realm of extremely circuitous inferential process. To be noted, no document has been placed before this Court as part of the case file to demonstrate any payment having been made to the Income Tax Department under the compromise decree and the decree also does not articulate anything directly in thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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