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of <h1>Statute requires transferring seized materials to assessing officer for other person and mandates block-assessment and fixed abatement date</h1> Where an AO seizes money, assets, documents or information in a search and is satisfied the undisclosed income pertains to a person other than the searched person, the statute mandates handing those materials to the AO having jurisdiction over that other person and requires that person be assessed under the block-assessment provisions. The enacted text broadens coverage to 'any other material or information,' replaces 'Chapter' with 'Part,' adds subsections fixing the block period for the other person and treating the date the AO receives the materials as the relevant date for abatement, and cross-references specific search provisions, reducing temporal uncertainty and clarifying procedural duties.
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