(2)[ Where a private company is converted into a public company and the tax assessed in respect of any income of any previous year during which such company was a private company cannot be recovered, then, nothing contained in sub-section (1) shall apply to any person who was a director of such private company in relation to any tax due in respect of any income of such private company assessable for any assessment year commencing before the 1st day of April, 1962.] [ Inserted by Act 41 of 1975, Section 50 (w.e.f. 1.10.1975).]N.-Special provisions for certain kinds of income
