Section 26(3) in Karnataka Agricultural Income-Tax Act, 1957
(3)[ Any person discontinuing any such business or every member of a firm or association dissolved shall give to the Assistant Commissioner of Agricultural Income Tax notice of such discontinuance or dissolution within thirty days thereof and where any such person or member, as the case may be, fails to give a notice required by this subsection, such officer may direct that a sum shall be recovered from him by way of penalty not exceeding the amount of agricultural income tax subsequently assessed on him in respect of any agricultural income of the company, firm or association of persons upto the date of such discontinuance or dissolution.] [Substituted by Act 18 of 1997 w.e.f. 20.9.1995.]
