K.—Persons trying to alienate their assetsAssessment of persons likely to transfer property to avoid tax.175.
Notwithstanding anything contained in section 4
, if it appears to the 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 Assessing Officer 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.