Liability of directors of private company

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....respect of any income of any previous year during which such other company was a private company] cannot be recovered, then, every person who was a director of the private company at any time during the relevant previous year shall be jointly and severally liable for the payment of such tax unless he proves that the non-recovery cannot be attributed to any gross neglect, misfeasance or breach of d....

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....75 w.e.f. 01-10-1975 before it was read as, "M.-Private company in liquidation"  2. Numbered vide Section 50 of the Taxation Laws (Amendment) Act, 1975 w.e.f. 01-10-1975 3. Substituted vide Section 50 of the Taxation Laws (Amendment) Act, 1975 w.e.f. 01-10-1975 before it was read as,  "Notwithstanding anything contained in the Companies Act, 1956 (1 of 1956), wh....