Section 293(5)(b) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 293(5)] [Section 293] [Entire Act]

Union of India - Subsection

Section 293(5)(b) in The Income Tax Act, 2025

(b)based on entries relating to income or transactions as recorded in books of account and other documents maintained in the normal course on or before the date of the execution of the last of the authorisations,relates to any international transaction or specified domestic transaction referred to in section 166, and pertains to the period beginning from the 1st April of the tax year in which last of the authorisations was executed and ending with the date of execution of the last of the authorisations, then irrespective of provisions of section 292(6)—

(i)such income shall not be considered for the purposes of determining the total undisclosed income of the block period; and

(ii)such income shall be considered in the assessment made under other provisions of this Act.

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 293(5)(b) in The Income Tax Act, 2025