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of <h1>Section 158BD requires transfer of seized assets to third party's jurisdictional officer for block assessment proceedings</h1> Section 158BD governs the transfer of seized assets and undisclosed income belonging to persons other than the primary search target. When an Assessing Officer determines that seized money, bullion, jewellery, virtual digital assets, or documents belong to a third party, these materials must be transferred to the relevant jurisdictional officer for block assessment proceedings. The provision establishes block period determination rules based on whether one or multiple specified persons are involved, with the later-ending period applying when multiple persons are relevant. For abatement purposes, the reference date becomes when materials were received by the third party's assessing officer, not the original search initiation date.
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