99. Liability of partners, etc., for discontinued business of a firm, etc.-

99.  Liability  of  partners,  etc.,  for  discontinued  business  of  a  firm,  etc.- 

(1) Where  any  business or  profession  carried  on  by  a firm  or  an  association  of persons has been discontinued, or where a firm or an association of persons is dissolved, assessment of the total income of the firm or association may be made as if no  such discontinuance or dissolution had taken place; and all the provisions of this Ordinance shall, so far as may be, apply accordingly.

(2) Where an assessment is made under sub-section (1) in respect of a firm or an  association  of  persons,  every  person  who  was  a  partner  of  the  firm  or member of the association at the time of discontinuance of business, or as the case  may  be,  dissolution  of  the  firm  or  association,  and  the  legal representative  of  any  such  person  who  is  deceased,  shall  be  jointly  and severally liable for the amount of tax found payable by the firm or association upon  such  assessment  and  shall,  for  the  purpose  of  recovery  of  such  tax, including penalty and other sum payable, be deemed to be an assessee ; and the provisions of this ordinance shall apply accordingly.

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