Provisional attachment must rest on tangible material and allow deposit of a portion of the disputed demand; attachment quashed subject to deposit.

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....Before invoking provisional attachment powers, authorities must form an objective opinion on tangible material demonstrating necessity to protect revenue; reliance on bank loans or hypothetical future demand is insufficient. Authorities must consider the assessee's history as a regular taxpayer when deciding on attachment. Provisional attachment is a draconian power and, consistent with principles of natural justice and applicable administrative guidance, the assessee should be afforded the opportunity to deposit a portion of the disputed demand as a minimum safeguard. The impugned attachment was set aside for lack of requisite formation of opinion and failure to permit the prescribed deposit mechanism, with a deposit direction issued.....