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2010 (1) TMI 653 - ITAT, INDORESearch - Survey - once the A.O, has taken a view in the matter, then such letter filed by the assessee has got no legal consequence, especially when the assessee had filed separate return, though subsequently, which has been acted upon by the Assessing Officer - Before deciding the core issue involved in this ground, the Revenue Authorities have been given ample powers to compel the assessee to file the returns and in case the assessee does not comply with the notices issued by the Assessing Officer, in this regard, then penal provision exists, which can be invoked to penalize the assessee - It is also noteworthy that prior to such new procedure of assessment in search cases, the undisclosed income found as a consequence of search had to be assessed in accordance with the provisions of sections 158BC/158BD under Chapter XIVB of the Act It is further noted that the A.O. has not given total effect to the seized documents by adding only 25 % of the quantum of undisclosed sales consideration arrived by him and no basis for adoption of such rate is evident in the assessment order - Accordingly decided in the favour of the assessee
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