Section 50 - Amendment of section 158BB.

Total undisclosed income: new exclusions for pre-search assessed or declared income and specified cross-border transactions.

Amendment replaces section 158BB to define total undisclosed income as the sum of undisclosed income declared under section 158BC and undisclosed income determined by the Assessing Officer, while listing specific exclusions: income already determined or assessed prior to initiation of search or requisition; income declared in returns or in response to notices before initiation and not covered by the prior exclusion; income computed by the assessee for certain pre-search and intra-search periods from books maintained in the normal course (subject to AO recomputation); and certain incomes taxed under specified provisions. Income relating to international or specified domestic transactions for the specified period is excluded from the block-period total and assessed under other provisions.