Section 27 in Karnataka Agricultural Income-Tax Act, 1957
27. [ Liability in case of discontinued firm or association. [Substituted by Act 14 of 1983 w.e.f. 1.10.1957.]
(1)Where the business of a firm or association of persons is discontinued or such firm or association is dissolved, the [Assistant Commissioner of Agricultural Income-tax] shall make the assessment of the agricultural income of the firm or association of persons as if no such discontinuance or dissolution has taken place and all the provisions relating to the levy of penalty or any other sum chargeable under any provisions of this Act shall apply, so far as may be, to such assessment.(2)Every person who was at the time of such discontinuance or dissolution, a partner of such firm or a member of such association and the legal representative of any such person who is deceased, shall be jointly and severally liable to the assessment on such agricultural income and also to pay the amount of agricultural income-tax, penalty or other sum payable and all the provisions of this Act, so far as may be shall apply to any such assessment or imposition of penalty or other sum.]
