64[Provisional attachment to protect revenue in certain cases.65
281B. (1) Where, during the pendency of any proceeding
for the assessment of any income or for the assessment or reassessment of any
income which has escaped assessment, the 66[Assessing] Officer is of the opinion that for
the purpose of protecting the interests of the revenue it is necessary so to
do, he may, with the previous approval of the 67[Chief Commissioner, Commissioner, Director General or Director], by
order in writing, attach provisionally any property belonging to the assessee
in the manner provided in the Second Schedule.
68[Explanation.—For the purposes of this
sub-section, proceedings under sub-section (5) of section
132 shall be deemed to be proceedings for the assessment of any income or
for the assessment or reassessment of any income which has escaped assessment.]
(2) Every such
provisional attachment 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) :
Provided that the 69[Chief Commissioner, Commissioner, Director
General or Director] 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 :
70[Provided further that where an
application for settlement under section 245C is
made, the period commencing from the date on which such application is made and
ending with the date on which an order under sub-section (1) of section 245D is made shall be excluded from the
period specified in the preceding proviso:]
71[Provided also that the period during
which the proceedings for assessment or reassessment are stayed by an order or
injunction of any court shall be excluded from the period specified in the
first proviso.]
