In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed
Bench: Shrisandeepgosain & Shriarunkhodpia
158B(b), Section 153A dealing with assessment in case of search w.e.f. 1st June, 2003 requires the AO to determine “total income” and not “undisclosed income”. Accordingly, the Assessing Officer has to compute the total income of the assessee on the basis of return filed u/s 153A of the act after considering the submissions made during the course of hearing