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of <h1>Innovative Tax Assessment Mechanism Empowers Authorities to Probe Undisclosed Income from Third-Party Digital and Physical Assets</h1> Clause 295 of the Income Tax Bill, 2025 introduces a specialized procedure for assessing undisclosed income belonging to third parties discovered during search operations. The provision allows tax authorities to transfer seized materials to the jurisdictional officer and conduct assessments when undisclosed income is found to belong to a person other than the one initially searched. It modernizes previous legal frameworks by explicitly including digital assets and broadening the scope of information that can be used in tax assessments, ensuring comprehensive coverage of potential tax evasion strategies.
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