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of <h1>Amendment to Section 153C: New Rules for Assessing Income from Seized Assets or Documents in Finance Bill 2015.</h1> Clause 36 of the Finance Bill, 2015 amends section 153C of the Income-tax Act, effective June 1, 2015. It modifies the process for assessing income related to assets or documents seized during searches. The amendment allows the Assessing Officer to transfer seized items to the officer with jurisdiction over another person if the items belong to or pertain to that person. The receiving officer can then issue notices and assess the income of this other person, provided the seized items impact their total income determination for relevant assessment years.
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