MD & Director are equally responsible to file IT returns of Company

Rakshit jain Vs ACIT (Delhi High Court) It is the argument of the petitioners that the obligation to verify and submit the ITR on behalf of the company has been placed by the legislature at the door of the managing director of the company and, consequently, it is inappropriate and unfair to rope in the directors of the company. It does appear, on first blush, that the prime responsibility of furnishing the return of income of the company is of the managing director of such company. But then, it is not correct to read the above provision so as to conclude that it is always or invariably the res...