Clause 173 - Assessment of persons likely to transfer property to avoid tax. - Direct Taxes Code, 2010

Assessment of persons likely to transfer property to avoid tax. 173. (1) Notwithstanding anything in this Code, where it appears to the Assessing Officer that any person is likely to charge, sell, transfer, dispose of or otherwise part with any of his assets, in any financial year, with a view to avoiding payment of any liability under this Code, then the Assessing Officer may charge to tax in that financial year the tax bases of such person for the period beginning from the first day of the financial year to the date when the Assessing Officer commences proceedings under this section. (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.