Assessment of persons likely to transfer property to avoid tax

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Full Text of the Document

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.... 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 2[Assessing] Officer commences proceedings under this section shall be chargeable....