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of <h1>Income Tax Bill 2025: Clause 301 Defines Terms for Special Procedure in Search Cases, Including 'Block Period' and 'Undisclosed Income.'</h1> Clause 301 of the Income Tax Bill, 2025, outlines definitions related to the special procedure for assessing search cases. It defines 'block period' as the cumulative period covering six tax years prior to the year of a search or requisition and the period from April 1 of the search year to the execution date of the last authorization. Terms such as 'requisition,' 'requisitioned items,' 'search,' 'seized items,' and 'undisclosed income' are clarified. Undisclosed income includes assets or expenditures not reported for tax purposes during the block period or incorrect claims for expenses, exemptions, deductions, or allowances.
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