Clause 263 - Provisional attachment to protect revenue in certain cases - Direct Taxes Code Bill, 2009

Provisional attachment to protect revenue in certain cases 263. (1) An Assessing Officer may attach provisionally, by order in writing, any property belonging to the assessee in the manner provided in the Fifth Schedule, if he is of the opinion that it is necessary to do so for the purpose of protecting the interest of the revenue. (2) The order referred to in sub-section (1) shall be issued with the prior approval of the Chief Commissioner or Commissioner. (3) Every such order shall cease to have effect after the expiry of a period of six months from the date of the order made under sub-section (1). (4) The Chief Commissioner or Commissioner may, for reasons to be recorded in writing, extend the aforesaid period by such further period or periods as he thinks fit, so, however, that the total period of extension shall not in any case exceed two years.