Amendment status not verified — confirm the current text below against the official source.
(l) 'W}lere a 'taxable perso?'? · a'rum,·or an association of Liabilityin other a4 personsor a. Hindu unaivided familyand such firm, association or familyhas:discontinuedbusiness- ,'.}\-;,j{:j .::· . 'f t,, . . .. _· (a):''?etax;interat,?r,?payable.under this Act . ' by such mm, associatirlrt'br family up to the date of such discontinuance may be determined as if no such disconnnuance ?d?en p]ace;and •',)!fl'l':I' ,,· f •;, ; (b). everypersonwho,atthetimeof such discontinuance, was a partner of-such firm, ot a m?ber of such association or family,shall, notwithstandingsuch ·?discofitmuance,jointly and severally,'<be:liable ' .. '[o?the ...paymentof tax and · ..iriterest determined ana?? imposed and payablebtsuclifirm, ?bdationor family,whethei?uclimrandinterest t':::?j? determined or penaltyhtlposedprior to or .Wf such discon?uance and subjectas af9,:-esaid, . 'Uteprovjsions of . this Act shall, so far as triaybe. apply?· if every such person of partn?r or niember i?re)ilinscl(ataxable,?1Lr ·,. ' (2) W];lere.a cbang? has occurred in the constitution of a firfflftt.' .· usodatioWof?ns, thepartners <ttthe finn orllje?fs of assoaatiBn,'as·itmstedbeforeandas it · ? 1fflerthe tec<>nsti?tt,?11, f11a1J, wtth?Jfprtjudice to thi provisionsof ?on'?, jointlyan4severally,be li,?leto pay? interest"?r?@ty due from su? firm or ?oda,tion;forany periq? before i?,reconsU??on. l (3) The p?mons·.??J!\>:section (1) sh?, so ra;as 'may be, apply where the taxable person, being a firm pr associati<m ofpersons is dissolved or where the taxalJle person, beinga Hindu t1n&vided Family,has effected partitionwith respect . t6 ·t1ie •. business carried} on by it and ·.accordinglyreferences in . that sub-section to discohtinuan?shall .. 'be construed . as reference to dissolutio?;i.as the?? may be, to partition. Explanation:-Forthe purposes of this?hap?er,- . (a) · a ?LinutedLiabilityPartn?ip" formeqanq,J?gi?re? ,under, the provisi<.>ns of ?JJmited Li.abilityPat:tn?p . Act, 2012. shall alsq ?- cQS$d,eredas a firm;, , II::. (b) ?court'"? theDistrid Court. PlighCourtor Supfeme Court. · · .· .. · ··· 1