Section 83(3) in The Punjab Value Added Tax Act, 2005
(3)Notwithstanding anything contained in the Companies Act, 1956, when any private company is wound up and any tax, interest or penalty assessed under this Act on the company for any period, whether before or in the course of or after its liquidation, cannot be recovered, then every person, who was a director of the private company at any time during the period for which the tax is due, shall be jointly and severally liable for the payment of such tax, interest or penalty, unless such person proves to the satisfaction of the Commissioner or the designated officer that non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company.Explanation. - For the purpose of this section, the expression 'private company' shall have the meaning, assigned to it under section 3 of the Companies Act, 1956 (1 of 1956).
