206. A transferred his business worth Rs. 20 Lacs on going concern basis to B on 1.02.2017. Who is liable to pay tax if the tax liability arising on the goods was Rs. 2 lacs (including interest and penalty) on the following dates.
(i) On
15.01.2017
(ii)
On 1.2.2017
(iii) On 15.2.2017
(a)
Only A is
liable to pay Tax liability of
Rs. 2 lacs as it arises before date of transfer
(b) Both
A & B are Jointly & Severally Liable to pay Tax liability of Rs. 2 lacs
(c) Only
B is liable to pay tax liability of Rs. 2 lacs as it arises after date of
transfer