Successor liability for tax: successors and estate bear tax, interest and penalties arising before or after change of status. Liability for tax, interest and penalty persists on death, partition, dissolution or termination: a person continuing a deceased's business is liable, or the legal representative is liable out of the estate if the business is discontinued; members on HUF or association partition and former partners on firm dissolution are jointly and severally liable for amounts due up to the date of partition or dissolution; wards or beneficiaries become liable on termination of guardianship or trust for amounts due up to termination. All provisions are subject to the statutory saving for the insolvency regime.
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.
Successor liability for tax: successors and estate bear tax, interest and penalties arising before or after change of status.
Liability for tax, interest and penalty persists on death, partition, dissolution or termination: a person continuing a deceased's business is liable, or the legal representative is liable out of the estate if the business is discontinued; members on HUF or association partition and former partners on firm dissolution are jointly and severally liable for amounts due up to the date of partition or dissolution; wards or beneficiaries become liable on termination of guardianship or trust for amounts due up to termination. All provisions are subject to the statutory saving for the insolvency regime.
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