Section 158BE of ITA, 1961 : Section 158Be: Time Limit For Completion Of Block Assessment

Explanation using Example

Imagine a business owner, Mr. X, who is suspected of tax evasion. On January 15, 2020, the Income Tax Department conducts a search of his business premises under section 132 of the Income-tax Act, 1961. This search is the last in a series of searches that began in the same month. According to Section 158BE of the Income-tax Act, 1961:

1. The Income Tax Department must pass the order under section 158BC, which pertains to the block assessment of undisclosed income discovered during the search, within two years from the end of the month in which the last ...

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