Assessment power for likely asset transfers to avoid tax permits charging a taxpayer's tax bases until proceedings commence. Where a person is likely to transfer or dispose of assets to avoid payment of any liability under the Code, an Assessing Officer may charge that person's ... Summary
Assessment power for likely asset transfers to avoid tax permits charging a taxpayer's tax bases until proceedings commence.
Where a person is likely to transfer or dispose of assets to avoid payment of any liability under the Code, an Assessing Officer may charge that person's tax bases for the financial year from its start until the date when the Assessing Officer commences proceedings under this section; proceedings under this clause are governed by the provisions of section 177 as they apply to a person leaving the jurisdiction.
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