Section 29 in The Kerala Value Added Tax Act, 2003
29. Firm dissolved or business discontinued.
(1)Where any business carried on by a firm is discontinued or where a firm is dissolved, the assessing authority shall make an assessment of the taxable turnover of, and determine the tax payable by, the firm as if no such discontinuance or dissolution had taken place, and all the provisions of this Act, including the provisions relating to levy of penalty or any other amount payable under any provisions of this Act, shall apply, so far as may be, to such assessment and determination.(2)Without prejudice to the generality of sub-section (1), if the assessing authority in the course of any proceedings under section 75 in respect of any such firm as is referred to in that sub-section is satisfied that the firm was guilty of willful non- disclosure of assessable turnover, it may direct payment of a penalty in accordance with the provisions of sub-section (2) of that section.(3)Every person who was, at the time of such discontinuance or dissolution a partner of the firm and the legal representative of any such person who is deceased, shall be jointly and severally liable, for the amount of tax, penalty or other amount payable, and all the provisions of this Act shall apply, so far as may be, to any such assessment or direction for payment of penalty or other amount.(4)Where such discontinuance or dissolution takes place after any proceedings in respect of any year have commenced, the proceedings may be continued against the persons referred to in sub- section (3) from the stage at which the proceedings stood at the time of such discontinuance or dissolution, and all the provisions of this Act shall, so far as may be, apply accordingly.(5)Nothing in this section shall affect the provisions of section 27.
