search servey and seizure

ordered or where stay order by court has been issued or in similarcircumstances."SECTION : 153 C"Sections 153C states that, if during the course of the search it is noticedthat any books of accounts, documents, assets etc: are found or seizedbelonging to any other person, the Assessing Officer shall transfer thesame to the officer who has jurisdiction over that other person and thenofficer shall proceed against that other person as provided in section 153Aand 153B."SECTION : 234 A AND 234 B"The provisions of section 234A and 234B for levy of interest on thedemand raised under the above proceedings will apply. Therefore, theassessee who is subjected to assessment or reassessment u/s 153A,153B and 153C will have to pay interest for the delay in filing the return ofincome and short fall in payment of advance tax at the applicable rates foreach of the above six years."SECTION : 271"With regards to the provisions of section 271 for the levy of penalty forconcealment of income will also apply and penalty will range between100% to 300% of tax which can also be levied."SECTION : 276 CC"It should be noted here that the provisions for prosecution u/s 276CC willbe applicable when the assessments are made u/s 153A, 153B and 153C."SECTION : 246A"The Finance Act, 2003 has amended section 246A so that the assesseecan file an appeal to the C1T (A) against the order of assessment or reassessmentunder the above section. Further an appeal to the ITATribunal can also be filed against the order of CIT (A). Also appeals toHigh Court on substantial question of law can also be filed.