Procedure for block assessment [ Section 158BC ]

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..... uirement of Furnishing a Return - (a) the Assessing Officer shall, in respect of search initiated, or books of account or other documents or any assets requisitioned, on or after the 1st day of September, 2024, issue a notice to such person, requiring him to furnish within such period, not exceeding a period of sixty days, as may be specified in the notice, a return in the form and verified in the .....

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..... revised return. [ Fourth Proviso Section 158BC(1)(a) ] The provisions section 143(1) shall not apply to the return furnished under section 158BC. [ Section 158BC(2) ] Manner of determination of total Income - (b) the Assessing Officer shall proceed to determine the total income including the undisclosed income of the block period in the manner laid down in section 158BB and the provisions of secti .....

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..... case search was made under section 132 , or whose books of account or other documents or any assets were requisitioned under section 132A , and proceedings under section 158BD were initiated due to such search or requisition, as the case may be; [ Second proviso of section 158BC(1)(c) ] Procedures for Dealing with Seized and Requisitioned Assets - (d) the assets seized under section 132 or requis .....

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