Time Limitation in Search Assessments : Clause 296 of the Income Tax Bill, 2025 Vs. Section 158BE of the Income-tax Act, 1961

Time limitation for block assessments ensures fixed completion period with specified exclusions and reference extensions.

Clause 296 mandates that block assessment orders be completed within twelve months from the end of the month in which the last search or requisition authorisation was executed, extends that period by twelve months where a statutory reference is made, excludes up to 180 days for transfer of seized material to the jurisdictional Assessing Officer, provides a minimum residual period of sixty days after exclusions, and suspends the limitation clock for a specified list of circumstances such as court stays, international information exchange (capped), audits and valuation references, and advance ruling proceedings.