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of <h1>Section 79: Losses from Undisclosed Income Found in Searches Cannot Offset Such Income from April 2022 Onward.</h1> Section 79, effective from April 1, 2022, stipulates that losses resulting from undisclosed income identified during a search, requisition, or survey under sections 132, 132A, or 133A cannot be set off against such income. Undisclosed income includes assets or transactions not recorded or disclosed before the search or survey and expenses found to be false due to these investigations. This provision applies to income not documented in the regular course of business or not reported to tax authorities before the search or survey.
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