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of <h1>Clause 296 Redefines Block Assessment Timelines, Enhancing Tax Procedural Clarity and Taxpayer Protection Mechanisms</h1> A comprehensive analysis of Clause 296 in the Income Tax Bill, 2025, compares it with Section 158BE of the Income-tax Act, 1961, focusing on time limitations for block assessments in search cases. The provision establishes a twelve-month period for completing assessments, with specific provisions for extensions, exclusions, and procedural safeguards. Key changes include standardizing reference periods to calendar months, broadening reference types, and ensuring administrative flexibility while maintaining taxpayer rights and assessment efficiency.
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