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

.... RESPONDENT [BY SRI E.I. SANMATHI, ADV. 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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion of the source of cash deposit and in any case 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 th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ase of Bhopal Sugar Industries Ltd., vs. Income Tax Officer, 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 t....