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          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.

          <h1>Tax liability on transfer of business now creates joint and several obligations and caps transferee exposure to asset value.</h1> Inserted provisions (sections 12A-12F) create joint and several tax liability on transferors and transferees, require liquidators and receivers to notify appointment and to set aside amounts notified by the Commissioner before disposing assets, impose personal liability on defaulting liquidators and joint director liability for unrecoverable tax unless rebutted for lack of gross negligence or misfeasance, make partners, guardians, trustees and court-appointed managers liable as dealers, and preserve assessment and recovery against discontinued or reconstituted firms and legal representatives after death.

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