104

(l) 'W}lere a 'taxable perso?' ? · a'rum,·or an association of Liability in other a4 persons or a. Hindu unaivided family and such firm, association or family has:discontinued business- ,'.}\-;,j{:j .::· . 'f t,, . . .. _· (a):''?etax;interat,?r,?payable.under this Act . ' by such mm, associatirlrt'br family up to the date ofsuch discontinuance may be determined as if no such disconnnuance ?d?en p]ace; and •',)!fl'l':I' ,,· f •;, ; (b). everypersonwho,atthetimeof suchdiscontinuance, was a partner of-such firm, ot a m?ber ofsuch association or family, shall, notwithstanding such ·?discofitmuance, jointly and severally,'<be: liable ' .. '[o? the ... payment of tax and · .. iriterest determined ana ?? imposed and payable btsucli firm, ?bdation or family, whethei?uclimrandinterest t':::?j? determined or penaltyhtlposedprior to or . Wf such discon?uance and subjectas af9,:-esaid, . 'Ute provjsions of . this Act shall, so far as triay be. apply?· if every such person of partn?r or niember i?re)ilinscl(a taxable,?1Lr ·,. ' (2) W];lere. a cbang? has occurred in the constitution of a firfflftt.' .· usodatioWof?ns, thepartners <ttthe finn orllje?fs of assoaatiBn,'as·itmsted before and as it · ? 1ffler the tec<>nsti?tt,?11, f11a1J, wtth?Jf prtjudice to thi provisions of ?on'?, jointly an4 severally, be li,?le to pay? interest"?r?@ty due from su? firm or ?oda,tion;for any 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, being a Hindu t1n&vided Family, has effected partition with respect . t6 ·t1ie •. business carried} on by it and ·. accordingly references in . thatsub-section to discohtinuan? shall .. ' be construed . as reference to dissolutio?;i. as the?? may be, to partition. Explanation:-For the purposes of this ?hap?er,- . ( a) · a ?Linuted Liability Partn?ip" formeq anq ,J?gi?re? , under, the provisi<.>ns of ?JJmited Li.ability Pat:tn?p . Act,