ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 1(4), MUMBAI

In the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

section 153A of the Act] for the year under consideration also. for the year under consideration also. 8.1.1 Regarding the additions of expenses related to exempt Regarding the additions of expenses related to exempt Regarding the additions of expenses related to exempt income u/s 10B of the Act amounting to ₹2,04,871/ income u/s 10B of the Act amounting

ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), MUMBAI

In the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

section 153A of the Act] for the year under consideration also. for the year under consideration also. 8.1.1 Regarding the additions of expenses related to exempt Regarding the additions of expenses related to exempt Regarding the additions of expenses related to exempt income u/s 10B of the Act amounting to ₹2,04,871/ income u/s 10B of the Act amounting

GOVIND AGARWAL. HUF,MUMBAI vs. ACIT CEN CIR 32, MUMBAI

In the result, the appeals of the assessee’s are allowed in part, in terms indicated hereinabove, whereas the Revenue’s appeals are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sanjay Garg, Jm आयकर अपील सं./Ita No.4531,4566,876,877,878/Mum/2011 ("नधा"रण वष" / Assessment Years :2006-07, 2007-08, 2002-03, 2003-04 & 2005-06) Acit, Cc-32, Mumbai Vs. Manidevi Agarwal, 720, A- 1, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aakpa 4962 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.4528/Mum/2011 ("नधा"रण वष" / Assessment Years : 2007-08) Acit, Cc-32, Mumbai Vs. Shri Govind Agarwal, 701, A-1, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adopa 4038 K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.873,874/Mum/2011 ("नधा"रण वष" / Assessment Years : 2003-04 & 2004-05) Acit, Cc-32, Mumbai Vs. Shri Govind Agarwal(Huf), 720/A-5, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aiepa 3109 A .. (अपीलाथ" /Appellant) (""यथ" / Respondent) 876,828,4566,4547,218/11 &957/13&Co203.13

153A shall be computed by considering the originally determined income. If some incriminating material is found in respect of 11 such assessment years for which the assessment is not pending, then the 'total income' would be determined by considering the originally determined income plus income emanating from the incriminating material found during the course of search. In the other scenario

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

ABHISHEK LODHA,MUMBAI vs. DCIT CEN CIR 7(3), MUMBAI

In the result both the appeals are allowed

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

MANJULA MANGALPRABHAT LODHA,MUMBAI vs. DCIT CEN CIR 7(3)(ERSTWHILE CEN CIR 4(2), MUMBAI

In the result appeal is allowed in part

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.3456,3457&3458/Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09,2009-10 & 2010-11) Mangal Prabhat Lodha, 412, 4Th Floor, Dcit, Central Circle -7(3), Room बिधम/ 17G, Vardhaman Chamber, Cawasji No.655, Aaykar Bhavan, M.K. Patel Road, Horniman Circle, Fort, Road, Mumbai-400 020. Vs. Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aabpl 6198F (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. No. 3465 &3466 /Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09 & 2009-10) Manjula Mangalprabhat Lodha, 412, Dcit, Central Circle -7(3), Room बिधम/ 4Th Floor, 17G, Vardhaman Chamber, No.655, Aaykar Bhavan, M.K. Cawasji Patel Road, Horniman Circle, Road, Mumbai-400 020. Vs. Fort, Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aacpl 5846 M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vijay Mehta प्रत्मथी की ओय से/Respondent By : Shri N.P. Singh सुनवाई की तायीख /Date Of Hearing : 20/07/2016 घोषणा की तायीख /Date Of Pronouncement : 24/08/2016 आदेश / O R D E R Per R.C. Sharma, A. M.: These Are The Appeals By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)- 48, Mumbai (‘Cit(A)’ For Short) For The Assessment Year (A.Y.) 2008-09,2009-10 & 2010-11 In The Matter Of Order Passed U/S 153A R.W.S. 143(3) Of The I.T. Act ,1961. 2 Ita No.3456,57&58/M/15 (A.Y. 2008-11) Mangal Prabhat Lodha Vs. Dcit

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

MANJULA MANGALPRABHAT LODHA,MUMBAI vs. DCIT CEN CIR 7(3)(ERSTWHILE CEN CIR 4(2), MUMBAI

In the result appeal is allowed in part

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.3456,3457&3458/Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09,2009-10 & 2010-11) Mangal Prabhat Lodha, 412, 4Th Floor, Dcit, Central Circle -7(3), Room बिधम/ 17G, Vardhaman Chamber, Cawasji No.655, Aaykar Bhavan, M.K. Patel Road, Horniman Circle, Fort, Road, Mumbai-400 020. Vs. Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aabpl 6198F (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. No. 3465 &3466 /Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09 & 2009-10) Manjula Mangalprabhat Lodha, 412, Dcit, Central Circle -7(3), Room बिधम/ 4Th Floor, 17G, Vardhaman Chamber, No.655, Aaykar Bhavan, M.K. Cawasji Patel Road, Horniman Circle, Road, Mumbai-400 020. Vs. Fort, Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aacpl 5846 M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vijay Mehta प्रत्मथी की ओय से/Respondent By : Shri N.P. Singh सुनवाई की तायीख /Date Of Hearing : 20/07/2016 घोषणा की तायीख /Date Of Pronouncement : 24/08/2016 आदेश / O R D E R Per R.C. Sharma, A. M.: These Are The Appeals By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)- 48, Mumbai (‘Cit(A)’ For Short) For The Assessment Year (A.Y.) 2008-09,2009-10 & 2010-11 In The Matter Of Order Passed U/S 153A R.W.S. 143(3) Of The I.T. Act ,1961. 2 Ita No.3456,57&58/M/15 (A.Y. 2008-11) Mangal Prabhat Lodha Vs. Dcit

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

MANGAL PRABHAT LODHA,MUMBAI vs. DCIT CEN CIR 7(3) ERSTWHILE CE CIR 4(2), MUMBAI

In the result appeal is allowed in part

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.3456,3457&3458/Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09,2009-10 & 2010-11) Mangal Prabhat Lodha, 412, 4Th Floor, Dcit, Central Circle -7(3), Room बिधम/ 17G, Vardhaman Chamber, Cawasji No.655, Aaykar Bhavan, M.K. Patel Road, Horniman Circle, Fort, Road, Mumbai-400 020. Vs. Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aabpl 6198F (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. No. 3465 &3466 /Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09 & 2009-10) Manjula Mangalprabhat Lodha, 412, Dcit, Central Circle -7(3), Room बिधम/ 4Th Floor, 17G, Vardhaman Chamber, No.655, Aaykar Bhavan, M.K. Cawasji Patel Road, Horniman Circle, Road, Mumbai-400 020. Vs. Fort, Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aacpl 5846 M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vijay Mehta प्रत्मथी की ओय से/Respondent By : Shri N.P. Singh सुनवाई की तायीख /Date Of Hearing : 20/07/2016 घोषणा की तायीख /Date Of Pronouncement : 24/08/2016 आदेश / O R D E R Per R.C. Sharma, A. M.: These Are The Appeals By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)- 48, Mumbai (‘Cit(A)’ For Short) For The Assessment Year (A.Y.) 2008-09,2009-10 & 2010-11 In The Matter Of Order Passed U/S 153A R.W.S. 143(3) Of The I.T. Act ,1961. 2 Ita No.3456,57&58/M/15 (A.Y. 2008-11) Mangal Prabhat Lodha Vs. Dcit

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

MANGAL PRABHAT LODHA,MUMBAI vs. DCIT CEN CIR 7(3) ERSTWHILE CE CIR 4(2), MUMBAI

In the result appeal is allowed in part

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.3456,3457&3458/Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09,2009-10 & 2010-11) Mangal Prabhat Lodha, 412, 4Th Floor, Dcit, Central Circle -7(3), Room बिधम/ 17G, Vardhaman Chamber, Cawasji No.655, Aaykar Bhavan, M.K. Patel Road, Horniman Circle, Fort, Road, Mumbai-400 020. Vs. Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aabpl 6198F (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. No. 3465 &3466 /Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09 & 2009-10) Manjula Mangalprabhat Lodha, 412, Dcit, Central Circle -7(3), Room बिधम/ 4Th Floor, 17G, Vardhaman Chamber, No.655, Aaykar Bhavan, M.K. Cawasji Patel Road, Horniman Circle, Road, Mumbai-400 020. Vs. Fort, Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aacpl 5846 M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vijay Mehta प्रत्मथी की ओय से/Respondent By : Shri N.P. Singh सुनवाई की तायीख /Date Of Hearing : 20/07/2016 घोषणा की तायीख /Date Of Pronouncement : 24/08/2016 आदेश / O R D E R Per R.C. Sharma, A. M.: These Are The Appeals By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)- 48, Mumbai (‘Cit(A)’ For Short) For The Assessment Year (A.Y.) 2008-09,2009-10 & 2010-11 In The Matter Of Order Passed U/S 153A R.W.S. 143(3) Of The I.T. Act ,1961. 2 Ita No.3456,57&58/M/15 (A.Y. 2008-11) Mangal Prabhat Lodha Vs. Dcit

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

MANGAL PRABHAT LODHA,MUMBAI vs. DCIT CEN CIR 7(3) ERSTWHILE CE CIR 4(2), MUMBAI

In the result appeal is allowed in part

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.3456,3457&3458/Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09,2009-10 & 2010-11) Mangal Prabhat Lodha, 412, 4Th Floor, Dcit, Central Circle -7(3), Room बिधम/ 17G, Vardhaman Chamber, Cawasji No.655, Aaykar Bhavan, M.K. Patel Road, Horniman Circle, Fort, Road, Mumbai-400 020. Vs. Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aabpl 6198F (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. No. 3465 &3466 /Mum/2015 (निर्धारण वषा / Assessment Year: 2008-09 & 2009-10) Manjula Mangalprabhat Lodha, 412, Dcit, Central Circle -7(3), Room बिधम/ 4Th Floor, 17G, Vardhaman Chamber, No.655, Aaykar Bhavan, M.K. Cawasji Patel Road, Horniman Circle, Road, Mumbai-400 020. Vs. Fort, Mumbai-400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aacpl 5846 M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vijay Mehta प्रत्मथी की ओय से/Respondent By : Shri N.P. Singh सुनवाई की तायीख /Date Of Hearing : 20/07/2016 घोषणा की तायीख /Date Of Pronouncement : 24/08/2016 आदेश / O R D E R Per R.C. Sharma, A. M.: These Are The Appeals By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)- 48, Mumbai (‘Cit(A)’ For Short) For The Assessment Year (A.Y.) 2008-09,2009-10 & 2010-11 In The Matter Of Order Passed U/S 153A R.W.S. 143(3) Of The I.T. Act ,1961. 2 Ita No.3456,57&58/M/15 (A.Y. 2008-11) Mangal Prabhat Lodha Vs. Dcit

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

DARLING PROPERTIES P. LTD,MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Darling Properties P. Ltd., B-25, V. Dcit, Cc – 47, Sarvoday Soc., Shiv Shrusti, Mumbai Chembur Kurla, Mumbai – 400 078

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?" The other question was, "whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

FLEMINGO DUTY FREE SHOP P.LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Darling Properties P. Ltd., B-25, V. Dcit, Cc – 47, Sarvoday Soc., Shiv Shrusti, Mumbai Chembur Kurla, Mumbai – 400 078

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?" The other question was, "whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

FLEMINGO (DFS) P.LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Darling Properties P. Ltd., B-25, V. Dcit, Cc – 47, Sarvoday Soc., Shiv Shrusti, Mumbai Chembur Kurla, Mumbai – 400 078

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?" The other question was, "whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

PRATYAKSHA PROPERTIES P.LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeals of the assessee are allowed in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

PRATYAKSHA PROPERTIES P.LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeals of the assessee are allowed in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

153A of the Act was without jurisdiction, being outside the scope of proceedings under that section?” The other question was, “whether on the facts and circumstances of the case, the Tribunal erred in law in upholding the action of the AO in denying set off, of book loss unabsorbed depreciation

SHRI AMIT MANGILAL JAIN,MUMBAI vs. ACIT, - 33(1), MUMBAI

In the result, both the above appeals are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

depreciation allowance or any other allowance or deduction for such assessment year and for which a prior notice under Section 148 would be required to be issued. Section 147 does not contemplate an eventuality which Section 153A

ACIT CC 24 & 26 CEN RG 5, MUMBAI vs. SAMIR NARAIN BHOJWANI, MUMBAI

In the result, the appeal of the Revenue and the Cross Objection of the assessee, both are dismissed

Bench: Sri Mahavir Singh, Jm & Sri Ashwani Taneja, Am Dy. Commissioner Of Income Tax, Shri Samir Narain Bhojani 1St Floor, Samir Complex, Cc-3(4), Central Range-3, Mumbai Vs. St.Andrews Road, Opp. Holy Family Hospital, Bandra(W), Mumbai-400050 .. Appellant Respondent Co No.189/Mum/2015 (In Ita No.3814/Mum/2014 A.Y. 2006-07) Shri Samir Narain Bhojani Dy. Commissioner Of Income 1St Floor, Samir Complex, Tax, Cc-3(4), Central Range-3, St.Andrews Road, Opp. Holy Family Mumbai Vs. Hospital, Bandra(W), Mumbai- 400050 Pan No.Aabpb9150H Appellant .. Respondent

depreciation at 50% of the normal rates.” 4. The learned Counsel for the assessee stated a search and seizure action on the assessee that was conducted u/s 132 of the Act on the residence and business premises of the assessee on 30-11-2010. According to the learned Counsel for the assessee, assessment was already framed in assessee’s case