Procedure for block assessment
(1)
Where any search has been initiated or requisition is made in the case of any person, then,–– (a) the Assessing Officer shall, in respect of such search or requisition, issue a notice to such person, requiring him to furnish within a period specified in the notice, not exceeding sixty days, a return in the 5 form and verified in the manner, as prescribed, setting forth his total income, including the undisclosed income, for the block period, and–– (i) such return shall be considered as if it was a return furnished under section 263 and thereafter notice under section 270(8) shall be issued; 10 (ii) any return furnished beyond the period allowed in the notice shall not be deemed to be a return under section 259;
(iii)
no notice under section 280 is required to be issued for the purpose of proceeding under this Chapter;
(iv)
a person who has furnished a return under this clause 15 shall not be entitled to furnish a revised return;
(b)
the Assessing Officer shall proceed to determine the total income including the undisclosed income of the block period in the manner laid down in section 293 and the provisions of , 270(8), 270(10), 271, 276, 287 and 288 shall, so far as may be, apply; 20 (c) the Assessing Officer, on determination of the total income of the block period as per this Chapter, shall pass an order of assessment or reassessment and determine the tax payable by him on the basis of such assessment or reassessment, so, however that— (i) the provisions of shall not apply in respect 25 of such order;