Section 59 in The Kerala Agricultural Income Tax Act, 1991
59. Firm, Association, etc., dissolved or business discontinued.
(1)Where agricultural income is received by a firm or association of persons and the business of such firm or association of persons is discontinued or such firm or association of persons is dissolved the Agricultural Income Tax Officer shall make an assessment of the agricultural income of the firm or association of persons as if no such discontinuance or dissolution had taken place, and all the provisions of this Act, inc1uding the provisions relating to the levy of penalty or any other sum chargeable under any provision of this Act shall apply, so far as may be, to such assessment.(2)Without prejudice to the generality of the foregoing pro- visions, if the Agricultural Income tax Officer in the course of any proceeding under this Act in respect of any such firm or association of persons referred to therein is satisfied that the firm or association of persons was guilty of any of the acts specified in Chapter XII he may impose a penalty in accordance with the provisions of that Chapter.(3)Every person who was at the time of such discontinuance or dissolution a partner of the firm or member of the association of persons 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 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.(4)Where such discontinuance or dissolution takes place after any proceedings in respect of an assessment year have commenced, the proceedings may be continued against the persons referred to in subsection (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)Any transfer of property by any person, partner or member to the firm or association of persons and vice versa, shall be registered under the Registration Act, 1908 (Central Act 16 of 1908).
