Clause 297 - Provisional attachment to protect revenue in certain cases. - Direct Taxes Code, 2010

Provisional attachment to protect revenue in certain cases. 297. (1) Where during the pendency of any proceeding for the assessment of any tax bases, the Assessing Officer is of the opinion that for the purpose of protecting the interests of revenue, it is necessary so to do, he may, with the previous approval of the Chief Commissioner or the Commissioner, by order in writing, attach provisionally any property belonging to the assessee in the manner provided in the Fifth Schedule. (2) Every such order shall cease to have effect after the expiry of a period of six months from the date of the order made under sub-section (1). (3) The Chief Commissioner or the Commissioner may, for reasons to be recorded in writing, extend the period referred to in sub-section (2) by such further period or periods as he thinks fit, provided that the total period of extension shall in no case exceed two years.