Notwithstanding anything contained in section 4, if it appears to the 1 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 1 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.
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1. Subs. by Act 4 of 1988, s. 2, for "Income-tax Officer" (w.e.f. 1-4-1988).
Section 171 Assessment after partition of a Hindu undivided family
Section 172 Shipping business of non-residents
Section 173 Recovery of tax in respect of non-resident from his assets
Section 174 Assessment of persons leaving India
Section 175 Assessment of persons likely to transfer property to avoid tax
Section 176 Discontinued business
Section 177 Association dissolved or business discontinued
Section 178 Company in liquidation
Section 179 Liability of directors of private company in liquidation
Section 180 Royalties or copyright fees for literary or artistic work