Insertion of new Chapter XIV-B (Omitted)

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....egular assessment for any assessment year (hereafter in this section referred to as assessed income) exceeds the total income declared in the return of income furnished by such person for that assessment year (hereafter in this section referred to as returned income) by any amount, the Assessing Officer shall make an order in writing that such person shall, apart from the sum determined as payable by him on the basis of the assessment under section 143 or section 144, be liable to pay, by way of additional income-tax, in respect of the said assessment year, a sum calculated on such excess amount at the rate of thirty per cent. (2) For the purposes of sub-section (1),- (a) where such person has furnished two or more returns....

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....s a result of an order under section 147 or section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264 or an order of settlement passed under sub-section (4) of section 245D, the amount on which the additional income-tax is payable under sub-section (1) has been increased or reduced, as the case may be, the additional income-tax shall be increased or reduced accordingly, and,- (i) in a case where the additional income-tax is increased, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall be deemed to be a notice under section 156 and all the provisions of this Act shall apply a....

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....cle or thing and the assessee claims that such assets have been acquired by him by utilising (wholly or in part) his income, - (a) for any previous year which has ended before the date of the search, but the return of income for such year has not been furnished before the said date or, where such return has been furnished before the said date, such income has not been declared therein; or (b) for any previous year which is to end on or after the date of the search, then, notwithstanding that such income is declared by him in any return of income furnished on or after the date of the search, such Income shall not, for the purposes of liability to the additional income tax under this section, be treated as forming p....