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of <h1>No Interest or Penalties for Undisclosed Income in Block Period per Clause 297 of Income Tax Bill 2025</h1> Interest under sections 423, 424, or 425, and penalties under section 439, shall not be levied or imposed on the assessee for undisclosed income assessed or reassessed during the block period, according to Clause 297 of the Income Tax Bill, 2025. This provision outlines a special procedure for the assessment of search cases, ensuring that certain financial penalties are not applicable in these specific circumstances.
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