In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed
Bench: Shri R.K. Panda & Shri K. Narasimha Chary
197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income