Association dissolved or business discontinued.

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Full Text of the Document

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....ssment of the total income of the association of persons as if no such discontinuance or dissolution had taken place, and all the provisions of this Act, including the provisions relating to the levy of a penalty or any other sum chargeable under any provision of this Act shall apply, so far as may be, to such assessment. (2) Regardless of the generality of sub-section (1), if the Assessing Offic....