Pending assessment proceedings must consider disclosures made under the Foreign Assets of Small Taxpayers Disclosure Scheme. Where a declaration of income or asset is made under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, and assessment proceedings are pending under the Income-tax Act, 1961 or the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 in relation to that income or asset, the Assessing Officer must take the declaration into account when finalising the assessment order.