Liability in case of transfer of business.

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....RTAIN CASES 85. Liability in case of transfer of business.-(1) Where a taxable person, liable to pay tax under this Act, transfers his business in whole or in part, by sale, gift, lease, leave and li....

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....npaid or is determined thereafter. (2) Where the transferee of a business referred to in sub-section (1) carries on such business either in his own name or in some other name, he shall be liable to p....