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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 158BB: Undisclosed Income Now Included in Block Period Total, Effective February 1, 2025.</h1> Section 158BB of the Income-tax Act is amended effective February 1, 2025. The revised subsection (1) defines total income for the block period as including undisclosed income declared in returns, income assessed under various sections before a search or requisition, and income determined based on recorded entries. Subsection (3) specifies that income from international or specified domestic transactions identified during a search will not be included in the block period's total income but assessed separately. Subsection (6) replaces 'disclosed income' with 'undisclosed income declared.' These changes aim to clarify the treatment of income during tax assessments following searches.
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