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Amendment of Rule 11 of Rules applicable to Cases I. and II. of Schedule D.
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13.—(1) For Rule 11 of the Rules applicable to Cases I and II of Schedule D there shall be substituted the following:—
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“11.—(1) If at any time after the 5th day of April, 1931, a change occurs in a partnership of persons engaged in any trade, profession or vocation, by reason of retirement or death of one or more of the partners or the dissolution of the partnership as to one or more of the partners or the admission of a new partner, in such circumstances that one or more of the persons who until that time were engaged in the trade, profession or vocation continue to be engaged therein, or a person who until that time was engaged in any trade, profession or vocation on his own account continues to be engaged in it, but as a partner in a partnership, the tax payable by the person or persons who carry on the trade, profession or vocation after that time shall notwithstanding the change, be computed (save as is otherwise provided by this rule) according to the profits or gains of the trade, profession or vocation during the period prescribed by the Income Tax Acts.
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(2) Where all the persons who were engaged in the trade, profession or vocation both immediately before and immediately after the change require, by notice signed by all of them or, in the case of a deceased person, by his legal representatives and sent to the inspector of taxes within three months after the change took place, that the tax payable for all years of assessment shall be computed as if the trade, profession or vocation had been discontinued at the date of the change, and a new trade, profession or vocation had been then set up or commenced, and that the tax so computed for any year shall be charged on and paid by such of them as would have been charged if such discontinuance and setting up or commencement had actually taken place, the tax shall (notwithstanding anything hereinbefore contained) be computed, charged, collected and paid accordingly.
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(3) If at any time after the 5th day of April, 1931, any person succeeds to any trade, profession or vocation which until that time was carried on by another person and the case is not one to which paragraph (1) of this rule applies, the tax payable for all years of assessment by the person succeeding as aforesaid shall be computed as if he had set up or commenced the trade, profession or vocation at that time, and the tax payable for all years of assessment by the person who until that time carried on the trade, profession or vocation shall be computed as if it had then been discontinued.
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In this paragraph reference to a person includes reference to a partnership.
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(4) In the case of the death of a person who, if he had not died, would, under the provision of this rule, have become chargeable to income tax for any year, the tax which would have been so chargeable shall be assessed and charged upon his executors or administrators, and shall be a debt due from and payable out of his estate.”
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(2) Where relief has been given under Rule 11 of the Rules applicable to Cases I. and II. of Schedule D in respect of a falling short of profits or gains from some specific cause since or by reason of a change in a partnership of persons engaged in any trade, or profession or a succession to a trade or profession, which change or succession took place within the year beginning on the 6th day of April, 1930, the person or persons who after the change or succession are chargeable with tax in respect of profits or gains of the trade or profession shall be entitled, on giving notice in writing to the inspector of taxes not later than the 5th day of October, 1932, to be charged to tax for the year beginning on the 6th day of April, 1931, as if the trade or profession had been set up or commenced on the date of the aforesaid change or succession, and if the tax charged has been paid any tax overpaid shall be repaid.
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(3) This section shall come into operation on the 6th day of April 1931.
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