(1) Where a dealer, liable to pay tax under this Regulation, transfers his business

in whole or in part, by sale, gift, lease, l~eave or licence, hue or in any other manner whatsoever, the dealer and the person to whom the business is so transferred shall jointly and severally be liable to pay the tax, interest or penalty due from thedealer up to the timeofsuch transfer, whether such tax, interest or penally has been assessed before such transfer, but has remained unpaid or is assessed thereafter.

1. (2) Where the transferee or the lessee of a business referred to in sub-section (I)

carries on such business either in his own name or in some other name, he shall be liable to

pay tax on the sale of goods effected by hi with effect from the date of such tramfer and shall, if he is registered

as a dealer, apply within the time specified in section 21 for the

amendment of his certificate of registration.