Provisional Attachment to protect the interest of the revenue [Section 281B] :

Under section 281B(1), the Assessing Officer may, during the pendency of any proceeding for assessment or reassessment of income escaping assessment, with the previous approval of the Chief Commissioner, Commissioner, Director General or Director attach provisionally any property belonging to the assessee in the manner provided in the Second Schedule, in order to protect the interest of revenue.

As per section 281B(2), every such provisional attachment shall cease to have effect after the expiry of a period of 6 months from the date of the order made under section 281B(1).

However, the Principal Chief Commissioner or Chief Commissioner, Principal Commissioner or Commissioner, Principal Director General or Director General or Principal Director or Director may extend the period of provisional attachment, for reasons to be recorded in writing, by a further period as he thinks fit. However, the total period of extension should not exceed two years or sixty days after the date of assessment or reassessment, whichever is later.