Relief for third parties caught in search cases, budget also tweaks timelines for block assessments
Seeking to ease procedural hardship in search-related tax cases, the finance bill has proposed a calibrated approach to block assessments for third parties, alongside changes to standardise limitation timelines — moves experts say could reduce disproportionate compliance burdens and bring greater predictability to the process.Under the existing framework, when tax authorities uncover undisclosed income belonging…
