45. Liability of Directors of a private company
Subject to the provisions of the Companies Act, 1956 (Central Act No.1 of 1956), where any tax and other sums recoverable under this Act from any private company, whether existing or wound up or under liquidation, can not be recovered for any reason whatsoever, every person who was a director, at any time during the period for which the tax or other sums are due, shall be jointly and severally liable for the payment of such tax and other sums unless he proves to the satisfaction of the assessing authority that the non–payment of tax or other sums can not be attributed to any gross neglect, misfeasance or breach of duty on his part.