Amendment status not verified — confirm the current text below against the official source.
(l ) Where o toxoble person, lioble to poy tox under this Act, tronslers his business in whole or in port, by sole, gift, leose, leove ond license, hire or in onyotter monner whotsoever, the toxoble person ond the person to whom the business is so tronslerred sholl, lointly ond severolly, be lioble wholly or to the extent of such tronsfer, to poy the tox, interest or ony penolty due from the toxoble person upto the time o{ such tronsfer, whether such tox, interest or penolty hos been determined belore such tronsfet but hos remoined unpoid or is determined thereofter. (2) Where the tr.'nsferee of o business refened to in sub-sedion (l ) corries on such business either in his own nome or in some other nome, he sholl be lioble to poy tox on the supply of goods or services or both effected by him with effect from the dote of such tronsfer ond sholl, if he is o regis- tered person under thisAct, opply within the prescribed time for omendment of his certificote ol registrotion.