2019 (8) TMI 568

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....DV. FOR SRI K.V.ARAVIND, ADV.]   O R D E R The petitioner has assailed the order dated 26.12.2017 passed by the respondent - Assessing Officer, under Section 143(3) of the Income Tax Act, 1961 ('Act' for short) inter alia, seeking a direction to the respondent - Assessing Officer to implement the orders of the Income Tax Appellate Tribunal, Bangalore Bench - C (ITAT) dated 09.11.2016 in I.T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the addition if any it should not be more than the peak credit in the bank account." 3. Pursuant to the said order of the ITAT, the Assessing Officer has passed the Assessment Order impugned herein determining the tax and penalty amount sans computing peak credit in the bank account. 4. Learned Senior counsel Sri. Shankar A., appearing for the petitioner would point out that the Assessing Office....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r, Bhopal reported in 40 ITR 618. It is ex-facie apparent that no peak credit of the bank account has been worked out by the Assessing Officer to conclude the assessments on remand by the ITAT.   7. Hence, the order impugned at Annexure - D dated 26.12.2017 being perverse and illegal stands quashed. The proceedings are restored to the file of the respondent - Assessing Officer to redo the as....