ORDER

1. Leave granted.

2. The appellants are directors of a company known as M/s Raj-mohan Cashews Ltd. For the assessment years 1977-78 to 1982-83 assessments were completed on the company and a demand of Rs 56 lakhs was raised. This amount was not paid for various reasons and so on April 30, 1989 the Deputy Commissioner passed an order holding the appellants, who are directors of the company, liable to pay the tax due from the company in view of the provisions of Section 179 of the Income Tax Act, 1961. The appellants preferred revision petitions before the Commissioner of Income Tax without success. At these two stages no point was taken on behalf of the appellants that the company was not a private limited company and, therefore, the proceedings under Section 179 of the Income Tax Act were unjustified. However, subsequently this objection was taken in an application under Section 154 of the Act filed before the Commissioner of Income Tax. But the Commissioner of Income Tax rejected this contention on the ground that it had not been raised earlier and that there was no mistake apparent on the face of the record which needed rectification. Thereupon the appellants preferred writ p