Income tax liability

The liability of the company for tax purpose is normally limited to company's assets. In case of a discrepancy, the people who are named in person during such proceedings take respensibility.

1.A Company is a seperate legal Entity , which mean it has a corporate veil (A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company’s debts and other obligations.)

2.In your case it was stated that 10 years back a search operation was conducted and now new directors were changed wether the income tax liability apply to personal assent of new directors?

3.Lifting of Corporate Veil - When Possible?

The circumstances under which corporate veil may be lifted can be categorized broadly into two following heads:

1. Statutory Provisions
2. Judicial interpretation

So in this case it comes under Statutory Provision were corporate veil can be lifted accordingly the who liable for the tax can be made payable not the company.

Again you have stated that wether new director's are responsible it is not at all possible because no way company is responsible as corporate veil can be lifted only the past director can be made responsible.