Assessing Officer's Order Quashed for Failing to Implement ITAT's Directive on Peak Credit Calculation Precisely.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Power of AO to determine income in remand case - ITAT direction to addition based on peak credit - It is trite law that the AO has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice and it is ex-facie apparent that no peak credit of the bank account has been worked out by the AO - the order of AO stands quashed....