Amendment status not verified — confirm the current text below against the official source.
Recovery if ta>. when busuzess zs l1ansjcrrcd.-\Vhere the owner- shi:.p of the business of a dealer liable to pay tax or other amount is transferred, any tax or other amount payable under this Act in respect of such bussiness and remammg unpaid at the time of the transfer and any tax or other amount due up to the date of the transfer, though unassessed, m<~y, Without prejudice to any action that may be taken for 1ts recovery from the transfe10r, be recovered from the t1ansfe1ee "V as if he were the dealer liable to pay such tax or other amount: Provided that the recovery from the transferee of the arrears of tax due for the period prior to the date of the transfer shall be limited to the value of the assets he obtained by transfer. CHAPTER VI inspection of business places and accounts and establishment of check posts