JASHVANTLAL NATVERLAL KANSARA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) The petitioners have challenged the order dated July 01, 2003 passed by the Incometax Officer under section 179(1) of the Incometax Act, 1961 (hereinafter referred to as 'the Tribunal') as confirmed by an order dated February 16, 2004 passed by the Commissioner of Incometax in Revision Petition filed by the petitioners.

(2.) The facts are as under :

(3.) Having heard the learned counsel for the parties and having perused the documents on record, we find that the basic facts are not in dispute. To recapitulate such facts, the petitioners were the directors of a private company. The Company had tax dues towards the Department. Despite efforts by the Department, such dues could not be recovered. The Incometax Officer, therefore, proceeded against the petitioners under section 179(1) of the Act. Section 179(1) of the Act provides as under :