Section 350
SEC. 350. Penalty for selling, transferring, encumbering or in any way disposing of property placed under constructive distraint. — Any taxpayer whose property has been placed under constructive distraint who sells, transfers, encumbers, or in any way disposes of the said property, or any part thereof, without the knowledge and consent of the Collector of Internal Revenue, shall be punished by a fine in a sum equal to twice the value of the property so sold, encumbered, or disposed of, or by imprisonment of not less than six months but not more than six years, or both: Provided, That where the value of the property sold, encumbered, or disposed of is less than five hundred pesos, the minimum fine shall be not less than five hundred pesos.