Income Tax Act, 1961
Section 4: Ins. by Act 20 of 2015, s. 40 (w.e.f. 12015).
4. Ins. by Act 20 of 2015, s. 40 (w.e.f. 12015).
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(2) The Commissioner or Principal Commissioner shall direct the Assessing Officer to make an
application under sub-section (1) only if an acceptance is received from the assessee to the effect that the
question of law in the other case is identical to that arising in the relevant case; and in case no such
acceptance is received, the Commissioner or Principal Commissioner shall proceed in accordance with
the provisions contained in sub-section (2) or sub-section (2A) of section 253.
(3) Where the order of the Commissioner (Appeals) referred to in sub-section (1) is not in conformity
with the final decision on the question of law in the other case, the Commissioner or Principal
Commissioner may direct the Assessing Officer to appeal to the Appellate Tribunal against such order
and save as otherwise provided in this section all other provisions of Part B of Chapter XX shall apply
accordingly.
(4) Every appeal under sub-section (3) shall be filed within sixty days from the date on which the
order of the Supreme Court in the other case is communicated to the Commissioner or Principal
Commissioner.]
1[CHAPTER XIVB
SPECIAL PROCEDURE FOR ASSESSMENT OF SEARCH CASES
158B.Definitions.—In this Chapter, unless the context otherwise requires,—
2[(a) “block period” means the period comprising previous years relevant to six assessment years
preceding the previous year in which the search was conducted under section 132 or any requisition
was made under section 132A and also includes the period up to the date of the commencement of
such search or date of such requisition in the previous year in which the said search was conducted or
requisition was made:
Provided that where the search is initiated or the requisition is made before the 1st day of June,
2001, the provisions of this clause shall have effect as if for the words “six assessment years”, the
words “ten assessment years” had been substituted;]
(b) “undisclosed income” includes any money, bullion, jewellery or other valuable article or
thing or any income based on any entry in the books of account or other documents or transactions,
where such money, bullion, jewellery, valuable article, thing, entry in the books of account or other
document or transaction represents wholly or partly income or property which has not been or would
not have been disclosed for the purposes of this Act3[, or any expense, deduction or allowance
claimed under this Act which is found to be false].
158BA. Assessment of undisclosed income as a result of search.—(1) Notwithstanding anything
contained in any other provisions of this Act, where after the 30th day of June, 1995 a search is initiated
under section 132 or books of account, other documents or any assets are requisitioned under section
132A in the case of any person, then, the Assessing Officer shall proceed to assess the undisclosed
income in accordance with the provisions of this Chapter.
(2) The total undisclosed income relating to the block period shall be charged to tax, at the rate
specified in section 113, as income of the block period irrespective of the previous year or years to which
such income relates and irrespective of the fact whether regular assessment for any one or more of the
relevant assessment years is pending or not.
4[Explanation.—For the removal of doubts, it is hereby declared that—
(a) the assessment made under this Chapter shall be in addition to the regular assessment in
respect of each previous year included in the block period;
The Commissioner or Principal Commissioner shall direct the Assessing Officer to make an
application under sub-section
only if an acceptance is received from the assessee to the effect that the
question of law in the other case is identical to that arising in the relevant case; and in case no such
acceptance is received, the Commissioner or Principal Commissioner shall proceed in accordance with
the provisions contained in sub-section
or sub-section
of section 253.
Where the order of the Commissioner
referred to in sub-section
is not in conformity
with the final decision on the question of law in the other case, the Commissioner or Principal
Commissioner may direct the Assessing Officer to appeal to the Appellate Tribunal against such order
and save as otherwise provided in this section all other provisions of Part B of Chapter XX shall apply
accordingly.
Every appeal under sub-section
shall be filed within sixty days from the date on which the
order of the Supreme Court in the other case is communicated to the Commissioner or Principal
Commissioner.]
1[CHAPTER XIVB
SPECIAL PROCEDURE FOR ASSESSMENT OF SEARCH CASES
158B.Definitions.—In this Chapter, unless the context otherwise requires,—
2[
“block period” means the period comprising previous years relevant to six assessment years
preceding the previous year in which the search was conducted under section 132 or any requisition
was made under section 132A and also includes the period up to the date of the commencement of
such search or date of such requisition in the previous year in which the said search was conducted or
requisition was made:
Provided that where the search is initiated or the requisition is made before the 1st day of June,
2001, the provisions of this clause shall have effect as if for the words “six assessment years”, the
words “ten assessment years” had been substituted;]
“undisclosed income” includes any money, bullion, jewellery or other valuable article or
thing or any income based on any entry in the books of account or other documents or transactions,
where such money, bullion, jewellery, valuable article, thing, entry in the books of account or other
document or transaction represents wholly or partly income or property which has not been or would
not have been disclosed for the purposes of this Act3[, or any expense, deduction or allowance
claimed under this Act which is found to be false].
158BA. Assessment of undisclosed income as a result of search.—
Notwithstanding anything
contained in any other provisions of this Act, where after the 30th day of June, 1995 a search is initiated
under section 132 or books of account, other documents or any assets are requisitioned under section
132A in the case of any person, then, the Assessing Officer shall proceed to assess the undisclosed
income in accordance with the provisions of this Chapter.
The total undisclosed income relating to the block period shall be charged to tax, at the rate
specified in section 113, as income of the block period irrespective of the previous year or years to which
such income relates and irrespective of the fact whether regular assessment for any one or more of the
relevant assessment years is pending or not.
4[Explanation.—For the removal of doubts, it is hereby declared that—
the assessment made under this Chapter shall be in addition to the regular assessment in
respect of each previous year included in the block period;