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of <h1>Income Tax Section 158BE sets 12-month deadline for block assessments in search cases with exclusions</h1> Section 158BE establishes time limits for completing block assessments in search cases under Income Tax law. The basic rule requires assessment orders to be passed within twelve months from the end of the quarter (amended to month from September 2024) when search authorization or requisition was last executed. For cases involving other persons under section 158BD, the twelve-month period begins from when notice was issued to such person. Transfer pricing references extend the period by twelve months. Various exclusions apply including court stays, information exchange periods, audit directions, valuation officer estimates, and advance ruling applications. The handover period of seized materials (maximum 180 days) is excluded from limitation calculations. If remaining time after exclusions is less than sixty days, it extends to sixty days, with further extension to month-end if assessment period expires mid-month.
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