Joint and several liability requires firm and each partner to pay tax and penalties; retiring partners remain liable until notice is received. A firm and each partner are jointly and severally liable for tax, interest and penalty irrespective of contract; a retiring partner remains liable for liabilities up to retirement unless written intimation of retirement is given to the Commissioner, and if no intimation is provided within the prescribed period the retiring partner's liability continues until the Commissioner receives such notice.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Joint and several liability requires firm and each partner to pay tax and penalties; retiring partners remain liable until notice is received.
A firm and each partner are jointly and severally liable for tax, interest and penalty irrespective of contract; a retiring partner remains liable for liabilities up to retirement unless written intimation of retirement is given to the Commissioner, and if no intimation is provided within the prescribed period the retiring partner's liability continues until the Commissioner receives such notice.
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