Comparison of section 296 "Time-limit for completion of block assessment." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

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....ves, and the Income-tax Department. The Bill text sets out computation rules, specified exclusions, and minimum remaining-period safeguards. Effective date or enactment status: Not stated in the document. Background & Scope Statutory hooks: Clause 296 (Bill) interacts primarily with section 294 (orders following search), section 295 (other persons), section 166(1) (references), section 159 (agreements for exchange of information), sections 244(2), 268(5), 269(1), 270(11)(i), 270(13), 274(1), and chapters dealing with Advance Rulings (sections 381 and 384 cited in the Bill). The Clause sets time-limits for passing assessment orders under the special search/block-assessment procedure and prescribes periods that are to be excluded in computi....

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....d these textual signals: Not stated in the document. Exceptions/Provisos Key carve-outs and conditions in the Clause: * Exclusion of a period (not exceeding 180 days) from date of search/requisition to date on which seized/requisitioned items are handed over to the Assessing Officer having jurisdiction (sub-s. (3)). * Enumerated exclusions in sub-s. (7): court stay periods (until certified copy of vacating order received), exchange-of-information reference periods (up to last receipt or one year, whichever less), time for reopening or re-hearing u/s 244(2), time taken where assessee is directed to get accounts audited/inventory valued u/s 268(5), period for reference to Valuation Officer u/s 269(1), periods linked to contraventions un....

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....ly interacts with multiple provisions: section 294 (orders after search), section 295 (other persons), section 166 (references), section 159 (exchange of information), section 244(2) (re-hearing/reopening), sections 268-269 (audit/valuation), section 270 (penalty/procedure references), section 274 (avoidance arrangements), and the Advance Rulings provisions (sections 381/384). The Bill text does not refer to any subordinate Rules, notifications or circulars. Potential textual inconsistency: sub-s. (1) refers to "Irrespective of the provisions of section 296", which appears circular or mis-referenced (likely intended to refer to another section-Not stated in the document). Practical Implications * Compliance and risk areas: Tax officers m....

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....to proceed, the remaining period is extended to sixty days, creating a minimum workable timeframe post-exclusions. * Month-end rounding rules extend expiry to the end of the month if the period would otherwise expire mid-month. * The Clause requires careful tracking of multiple external events and receipt dates; however, procedural forms, judicial or administrative guidance on computation: Not stated in the document. * Textual inconsistency in sub-section (1) referring to "provisions of section 296": Not explained in the document. Differences Between (Document 2) Clause 296 of the Income Tax Bill, 2025 - Old Version and (Document 1) Section 296 of the Income-tax Act, 2025 * Trigger point for ....

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....61(b)] and material seized or requisitioned [as provided in section 261(i)] are handed over to the Assessing Officer having jurisdiction. * Practical impact: Act clarifies the nature of items (cross-referring to section 261 definitions) which may reduce disputes about what constitutes seized items; Bill is more general. * Detailed sub-sectioning and drafting refinements: The Act expands certain sub-section numbering and presents the "quarter" rule, an additional clause for extension linked to return-filing, and adds or rearranges textual clarifications for persons u/s 295 (Act sub-s. (5) refers to "twelve months from the end of the quarter in which the notice u/s 294 in pursuance of section 295, was issued ..."). The Bill refers to "end....