Block period assessment: consolidated taxation triggered by search requires prescribed return, computation, time-limits and penalty safeguards. Where a search under section 132 or requisition under section 132A occurs on or after the commencement date, the Assessing Officer shall assess or reassess the total income of the defined block period by aggregating prescribed disclosed income, previously assessed income, declared income, income determined from books for unfinished years and undisclosed income discovered in search or requisition; pending assessments for years within the block period abate on initiation, specified transfer pricing evidence for the immediate previous-year portion is excluded from block determination, and tax on the block-period total is charged as block income. Notices for a prescribed return are issued with supervisory approval, assessments must meet statutory time-limits with enumerated exclusions and extensions, and special interest and penalty rules for late or non-filing apply subject to safeguards.