Succession to business: successor bears post-takeover tax assessment and may be liable for predecessor's unpaid tax. Succession to business shifts assessment: the predecessor is assessed for income up to succession date and the successor for income after that date; if the predecessor cannot be found, the successor may be assessed for the same periods in like manner. Proceedings initiated against the predecessor during the pendency of succession are deemed to have been made on the successor. If sums assessed on the predecessor cannot be recovered, the Assessing Officer shall record that and the sum shall be payable and recoverable from the successor, who may recover from the predecessor.