CBDT Notifies New ITR-B Form for Block Assessment in Search & Seizure Cases

The CBDT has notified a new ITR-B form specifically for block assessment in search and seizure cases. This new Income Tax Return form is designed for assessees whose cases are undergoing block assessment proceedings following a search or seizure operation by the tax authorities. The form will likely require detailed disclosure of income and assets discovered during the search. This specific form aims to streamline the reporting of income assessed under the block assessment provisions of the Income Tax Act.