Section 175:
Assessment of persons likely to transfer property to avoid tax.
Notwithstanding anything
contained in section 4, if it appears to the 1
Assessing Officer during any current assessment year that
any person is likely to charge, sell, transfer, dispose of or otherwise part with any of his assets with a view
to avoiding payment of any liability under the provisions of this Act, the total income of such person for
the period from the expiry of the previous year for that assessment year to the date when the
1
AssessingOfficer commences proceedings under this section shall be chargeable to tax in that
assessment year, and the provisions of sub-sections (2), (3), (4), (5) and (6) of section 174 shall, so far as
may be, apply to any proceedings in the case of any such person as they apply in the case of persons
leaving India.
Notes:
1. Subs. by Act 4 of 1988, s. 2, for “Income-tax Officer” (w.e.f. 1-4-1988).