Section 10(3)(iii) in The M.P. Nagariya Sthawar Sampatti Kar Adhiniyam, 1964
(iii)changes made under clauses (iv)(a) and (b) of sub-section (I) and under sub-section (2) shall take effect from the respective dates on which the events leading to the changes took place, provided that in the case of change of ownership envisaged by sub-clause (b) of clause (iv) of sub-section (1) the transferor shall continue to be liable for payment of tax until he gives a notice of transfer in the manner and during the period prescribed;