Preventive assessment of likely asset transfers: current year taxation triggered by AO belief of tax avoidance intent.
Clause 319 empowers the Assessing Officer to tax the total income of persons believed likely to dispose of assets to avoid tax, charging income in the current tax year from its first day until proceedings commence; it requires formation of an AO opinion based on credible material, applies procedural provisions analogous to those for persons leaving the jurisdiction, and raises interpretive issues including the undefined scope of "assets", the standard for AO satisfaction, the truncated assessment period, and overlap with other anti avoidance rules.