Duty/ penalty liability of the company cannot be recovered from its director

Prakash B. Kamat Vs PCIT (Bombay High Court) Bombay High Court held that in absence of any specific provisions in the statute, duty or penalty liability of the company cannot be recovered from its Director, who is not personally liable towards liability of the Company. Facts- Petitioner is a mechanical Engineer who had developed a smart card based ticketing solution in the year 2000. The assessee company KAPL came to be incorporated on 30th March 2006. Since disagreement arose between the J V Partners, Petitioner was forcibly removed from the post of Managing Director in January 2009 and his w...