Levy of interest and penalty in certain cases (1) Where the return of total income including undisclosed income for the block period, in respect of search initiated under section 132 or books of account, other documents or any assets requisitioned under section 132A on or after the 1st day of January, 1997, as required by a notice under clause […]

Certain interests and penalties not to be levied or imposed No interest under the provisions of section 234A, 234B or 234C or penalty under the provisions of clause (c) of sub-section (1) of section 271 or section 271A or section 271B shall be levied or imposed upon the assessee in respect of the undisclosed income determined in the block assessment. Practice area’s of B K Goyal

Time limit for completion of block assessment (1) The order under section 158BC shall be passed—  (a) within one year from the end of the month in which the last of the authorisations for search under section 132 or for requisition under section 132A, as the case may be, was executed in cases where a search is initiated or books

Undisclosed income of any other person Where the Assessing Officer is satisfied that any undisclosed income belongs to any person, other than the person with respect to whom search was made under section 132 or whose books of account or other documents or any assets were requisitioned under section 132A, then, the books of account, other documents or

Procedure for block assessment Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section 132A, in the case of any person, then,—  (a) the Assessing Officer shall—    (i) in respect of search initiated or books of account or other documents or any assets requisitioned after the

Computation of undisclosed income of the block period (1) The undisclosed income of the block period shall be the aggregate of the total income of the previous years falling within the block period computed, in accordance with the provisions of this Act, on the basis of evidence found as a result of search or requisition

Assessment of undisclosed income as a result of search (1) Notwithstanding anything contained in any other provisions of this Act, where after the 30th day of June, 1995 a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A in the case of any person, then, the Assessing Officer

SPECIAL PROCEDURE FOR ASSESSMENT OF SEARCH CASES In this Chapter, unless the context otherwise requires,—  (a) “block period” means the period comprising previous years relevant to six assessment years preceding the previous year in which the search was conducted under section 132 or any requisition was made under section 132A and also includes the period up to the date

Procedure where an identical question of law is pending before High Courts or Supreme Court (1) Notwithstanding anything contained in this Act, where the collegium is of the opinion that—  (a) any question of law arising in the case of an assessee for any assessment year (such case being herein referred to as the relevant

Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court (1) Notwithstanding anything contained in this Act, where the Commissioner or Principal Commissioner is of the opinion that any question of law arising in the case of an assessee for any assessment year (such case being herein referred