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of <h1>Enacted law narrows authority to apply seized or requisitioned assets to tax, adds block assessments under Part B Chapter XVI</h1> The enacted provision narrows and clarifies the Bill's original authority to apply assets seized under search or requisition to tax liabilities: both versions allow recovery of tax, penalty and interest (excluding advance tax) from seized/requisitioned assets and treat non-monetary assets as under distraint, but the Bill explicitly allowed application to liabilities determined after completion of assessment until asset release, whereas the enacted text omits that explicit post-assessment clause and adds express reference to block assessments under Part B of Chapter XVI. The enacted wording also conditions release more squarely on explanations furnished by the custodian and ties recovery mechanics to specified distraint authority, modestly shifting evidentiary and procedural burdens.
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