Clause 172 - Assessment of an unincorporated body formed for a particular event or purpose. - Direct Taxes Code, 2010

Assessment of an unincorporated body formed for a particular event or purpose. 172. (1) Notwithstanding anything in this Code, where it appears to the Assessing Officer that an purpose in a financial year is likely to be dissolved in the financial year or shortly thereafter, then the Assessing Officer may charge to tax in that financial year the tax bases of the unincorporated body for the period beginning from the first day of the financial year to the likely date of its dissolution. (2) The provisions of section 171 shall apply to any proceeding under this section as they apply in the case of a person leaving India.