Home Highlights December 2012 Year 2012 This

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1. CIRP proceedings - piercing of Corporate Veil - seeking invoking the Bank Guarantee furnished by the parent company - the instant application is a fit case for piercing...

2. Liability of directors of private company in liquidation - statutory creation of piercing of corporate veil - If the revenue wanted to apply the principle of lifting the...

3. Lifting of the corporate veil - Liability of directors - competent officer to formulate the ground and thereafter, to give a notice for treating the company as private...

4. Recovery of dues u/s 179(1) - seeking recovery of unpaid tax of the said company and penalty under section 271(1)(c) of the Act of the same company from the director - A...

5. Liability of directors u/s 179 - Recovery of dues of company - Onus to prove the gross neglect or misfeasance or breach of duty on his part - No material is highlighted...

6. Doctrine of piercing the corporate veil - In proceedings for declaration of Wilful Defaulter, the corporate veil has to be lifted in order to examine the role of the...

7. Dishonour of cheque - vicarious liability - liability of group companies - liability common Directors of the group, namely, Right Choice Group of Companies - Lifting of...

8. Recovery of tax dues of the company from the Director u/s 179(1) - Director is now no more (deceased) - Before passing an order u/s 179, the Assessing Officer should...

9. Recovery of the amounts from the company and its directors - Liability of directors - Section 179(1), in itself, grants the Directors the liberty to prove that the...

10. Recovery from the directors u/s 179 - Attachment of property - Arrears of taxes other liabilities of private company - here was no satisfaction recorded that the tax...

11. Piercing the corporate veil - Application of section 2(22)(e) and 56(2)(vi) - only the equity shares of M/s. SKM Egg Products Export (India) Ltd., were transferred and...

12. Liability of directors u/s 179 - AO is required to make efforts for recovery of the outstanding dues from the assessee private limited company which has committed...

13. Liability of directors of private company u/s 179 - recovery of unpaid tax dues of a private company from its directors - AO passed the order without considering such...

14. Liability of directors of private company in liquidation - Section 179 v/s 156 - Nothing came to be stated by him regarding the gross negligence on part of the...

15. Recovery of tax due from the directors - no finding that the tax due cannot be recovered from the company - no liability could be fixed on the Directors under S. 179 of...