(1) Irrespective of any other provision of this Act, where on or after the commencement of this Act, in the case of any person, search is initiated or requisition is made, then, the Assessing Officer shall proceed to assess or reassess the total income of the block period as per this Chapter.(2) The assessment or […]

(1) The total income of the block period referred to in section 292(1) shall be the aggregate of the following:—(a) undisclosed income declared in the return furnished under section 294;(b) income assessed under section 270(10) or section 271 or 279 of this Act, or section 153A or 153C of the Income-tax Act, 1961, prior to

(1) Where any search has been initiated or requisition is made in the case of any person, then,––(a) the Assessing Officer shall, in respect of such search or requisition, issue a notice to such person, requiring him to furnish withina period specified in the notice, not exceeding sixty days, a return in the form and

Where the Assessing Officer is satisfied that any undisclosed income belongs to or pertains to or relates to any person, other than the person with respect to whom search was initiated or requisition was made, then––(a) any money, bullion, jewellery, virtual digital asset or other valuable article or thing, or assets, or books of account,

(1) Irrespective of the provisions of section 296, the order under section 294 shall be passed within twelve months from the end of the month in which the last of the authorisations for search was executed, or requisition was made.(2) Where search was initiated or requisition was made, and during the course of assessment or

Interest under section 423, 424 or 425 or penalty under section 439 shall not be levied or imposed upon the assessee for the undisclosed income assessed or reassessed for the block period.

 (1) Where the return of total income as required under a notice under section 294(1)(a), is not furnished within the period specified in such notice, or is not furnished, then,—(a) the assessee shall be liable to pay simple interest at the rate of 1.5% of the tax on undisclosed income determined under clause (c) of

(1) The order of assessment for the block period shall be passed by an Assessing Officer not below the rank of a Deputy Commissioner or an Assistant Commissioner or a Deputy Director or an Assistant Director.(2) The order referred to in sub-section (1) shall be passed with the previous approval of the Additional Commissioner or

Save as otherwise provided in this Chapter, all other provisions of this Act shall apply to assessment made under this Chapter.

In this Chapter––(a) “block period” means the aggregate of––(i) the period comprising six tax years preceding the tax year in which the search was initiated or any requisition was made; and(ii) the period starting from the 1st April of the tax year in which search was initiated or requisition was made and ending on the