71[Power of Settlement Commission to order
provisional attachment to protect revenue.
22DD. (1) Where, during the pendency of any proceeding
before it, the Settlement Commission is of the opinion that for the purpose of
protecting the interests of the revenue it is necessary so to do, it may, by
order, attach provisionally any property belonging to the applicant in the
manner provided in the Second Schedule to the Income-tax Act as made applicable
to this Act by section 32:
Provided that where a
provisional attachment made under section 34C is pending immediately before an
application is made under section 22C, an order under this sub-section shall
continue such provisional attachment up to the period up to which an order made
under section 34C would have continued if such application had not been made:
Provided further that
where the Settlement Commission passes an order under this sub-section after
the expiry of the period referred to in the preceding proviso, the provisions
of sub-section (2) shall apply to such order as if the said order had
originally been passed by the Settlement Commission.
(2) Every provisional attachment made by the Settlement Commission under
sub-section (1) 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
Settlement Commission may, for reasons
to be recorded in writing, extend the aforesaid period by such further
period or periods as it thinks fit 72[***].