ITAT restores appeal to CIT(A) & directed to consider incriminating material found during search

Dy.C.I.T Vs Ashok Developers & Builders Ltd (ITAT Hyderabad) It is an admitted fact that a search & seizure operation took place in the premises of the assessee on 18.02.2016 and certain incriminating documents were found and seized. We find the AO in the order passed u/s 143(3) r.w.s. 153A of the Act determined the total income at Rs.20,78,40,695/- as against the returned income of Rs.13,58,60,960/-. We find the learned CIT (A) on the basis of the arguments advanced by the assessee held that the initiation of proceedings u/s 153A is not valid, the reasons of which have already been re...