- Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section 132-A, in the case of any person, then,-(a)[ the Assessing Officer, shall- [ Substituted by Act 14 of 1997, Section 4, for Clause (a) (w.r.e.f. 1.1.1997).](i)in respect of search initiated or books of accounts or other documents or any assets requisitioned after the 30th day of June, 1995 but before the 1st day of January, 1997, serve a notice to such person requiring him to furnish within such time not being less than fifteen days;(ii)in respect of search initiated or books of accounts or other documents or any assets requisitioned on or after the 1st day of January, 1997, serve a notice to such person requiring him to furnish within such time not being less than fifteen days but not more than forty-five days, as may be specified in the notice a return in the prescribed form and verified in the same manner as a return under clause (i) of sub-section (1) of section 142, setting forth his total income including the undisclosed income for the block period:Provided that no notice under section 148 is required to be issued for the purpose of proceeding under this Chapter:Provided further that a person who has furnished a return under this clause shall not be entitled to file a revised return;] [ Inserted by Act 21 of 1998, Section 44 (w.r.e.f. 1.7.1995).](b)the Assessing Officer shall proceed to determine the undisclosed income of the block period in the manner laid down in section 158-BB and the provisions of section 142, sub-sections (2) and (3) of section 143 [, section 144 and section 145] [ Substituted by Act 20 of 2002, Section 66, for " and section 144" (w.r.e.f. 1.7.1995).] shall, so far as may be, apply;(c)the Assessing Officer, on determination of the undisclosed income of the block period in accordance with this Chapter, shall pass an order of assessment and determine the tax payable by him on the basis of such assessment;(d)[ the assets seized under section 132 or requisitioned under section 132-A shall be dealt with in accordance with the provisions of section 132-B.] [ Substituted by Act 20 of 2002, Section 66, for Clause (d) (w.e.f. 1.6.2002).]
