https://www.taxtmi.com/acts?id=48736 Block assessment procedure requires the Assessing Officer to assess or reassess the total income of the block period upon initiation of a search or requisition; pending assessments, reassessments or recomputations for tax years within the block period abate, and related references or orders abate as well. Subsequent searches require completion of the prior Chapter assessment before a new Chapter assessment, with prescribed extension where necessary. Annulment of Chapter proceedings revives previously abated proceedings upon receipt of the annulment order, subject to cessation if that annulment is set aside. Income of the tax year of the last search is assessed separately, and the total block income is taxed at the specified rate irrespective of tax years. en-us Fri, 14 Feb 2025 11:13:44 +0530 Fri, 14 Feb 2025 11:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48736 Block assessment procedure requires the Assessing Officer to assess or reassess the total income of the block period upon initiation of a search or requisition; pending assessments, reassessments or recomputations for tax years within the block period abate, and related references or orders abate as well. Subsequent searches require completion of the prior Chapter assessment before a new Chapter assessment, with prescribed extension where necessary. Annulment of Chapter proceedings revives previously abated proceedings upon receipt of the annulment order, subject to cessation if that annulment is set aside. Income of the tax year of the last search is assessed separately, and the total block income is taxed at the specified rate irrespective of tax years. Act-Rules Bills Fri, 14 Feb 2025 11:13:44 +0530 https://www.taxtmi.com/acts?id=48736