Evolving Framework of Block Assessment: A Comparative Analysis of Old and New Provisions in Finance Act 2024
Introduction Block assessments are specific measures outlined in the Income-tax Act aimed at taxing undisclosed income discovered during search and seizure operations. The reintroduction of block assessments in search cases under the Income Tax Act, effective from September 1, 2024, marks a significant shift in the management of undisclosed income identified during these operations. The […]