Amendment status not verified — confirm the current text below against the official source.
Assessment aller partitioB of Hindu UndiYided Ifamily or dissolution of firm and tax payable bY a deceased dealer- (1) Where a dealer is allindu r:ndividedfamily, fiIm orother association ofpersons' and such family, firm or association is partitioned, disrupted ordissolved, as the case maybe'- (a) the tax, penalty or interest payable under this Act by such family' fim or association of 44 pcmons for dre peaiod up to the dale olsuch paltition, disfuption shall be assessed. irnposed ordelermined as ifno such partition, disruption ordissolLrtion had taken place and allthe provisiors ofthis Act shall apply accordingly, and (b) every person who was. at the time ofsuch partition, djsrrption or dissolution. a member of the Hindu divided family. partner of a firm or membcrofan association ofpeNons and the legal rcpresentative olany such person. who is dcceased, shall, notwithstanding such paltition. disruption ordissolution. bejointly and severally ]iable for the payment. ofthe iax, penalty or interesipayable under this Aclby such family, firm orassociation ofpersons for the pcdod up to the clate ofsuch pa(ition, disruption ordissolution, whetherassessmenl ofsuch tax. imposition ofsuch frenalty ordetermination ofsuch interc,stis nude pior to, or' after. such partitiorl disruption or dissolution. (2) where a dealercarJiug on a business as the sole proprietordies and thebusiness is padtioned. disruptcdordisconlinueduponhisdeatlr,llreexecutor,administmtororlegalheirshall. notwithsianding the provisions ofclause (xii) olsection 2, bedeerned to be a dealcrunder this Act Ior the puqDses ofassessmenl ollax, determinalion ofinleresl and payment, recovery and refund oftax assessed or interestdetcrmined, shall apply accordingly. -53. Refunds- (1) The prescdbed autho.jty shall, iD the mannerprescribed, refund lo a dealerany amounloltax, penally or intetest paid by snch dealer in cxcess of the amounlduefiom him under this Act. ellhcr by cash paymcnt, deduction or adjuslmentofsuch excess fiom the amount oftax, penalty or intercst due jn respect of otl]er pedod orperiods. Nothing in sub scctiol (l ) shall be deemed to empower the prescribed aulhodty to amend, varJ or rescind any assessment, or to ameod, vary or rescirld any order passed on appeal, revision orreview undersection 74. section 75, section 76, orsection 77 or to conferon a .lealer any relicfin addition to whal he is enlitled under the prov;sions ofthis Acl. Subiect to otherp1ovisions ofthis Act, the prcscribed authorily slrall, in the manner prescribed, refund to a dealer the arnount ofcxcess input tax credit ifit is satisfied that the claim made under section 2l is tr'uc and corect. (2) (J) 45 CIIAPTtrR VI ACCOUNTS AND RECORDS 54, Maintenance ofaccounts and records etc.:- (1) Every rcgistered dealer or a dealerlo whoma notice has been served to lur'nish return under section 30 shall maintain a troe and up to dale accounl ofthc va]ue ofgoods purchased or manufactured and soldby him or goods held by him in stock, and, in addilion to tl'le books cr1 account that a dealermatntains and keeps tbr the purpose refefied to in this sub-seclion, he shall maintain and keep suchrcgisters ard accounts in such tbm in lhe mannerprescribed. (2) Every registered dealer or dealer refefied to in sub-section ( I ) sha11 keep at his place of business all accounts, regisle$ and documents llaintainedin the course ofbusiness. (3) whore a dealer as referred to in sob-section (1) has established branch oflices ofthe business in the State other than lhe principal place olbusiness, the relevant accounts, regislcN and documents in respect ofeach such bnnch shall, wlthout prejudice to the provisions ofsub- seclion (5), bekeptby him atsuch branch. (4) Iffie prescdbed authority is ofthe opinion that the accounls maintailed by any dealeror class of dealers do not sufficienlly enable him to verily the relurns referred to in section 30 or tllc assessmentcan notbe made on thebasis thereol itmay by an order, rcquire suchdealet or class ofdealgrs, tokeepsuch accounts, iD suchtbrmand in such manneras it may, subjectto rulesmade under this Act. direct. (5) lftheprcscribed authority is satisfied that any dealer is notin aposhion to mainlain rccounts in accordance with the prcvisions ofsub_seclion (1), it may, for rcasons to be recorded in wtitillg, exempt such dealerftom the operation of the provisions oflhe said sub-section