2020 (3) TMI 1032

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....ocate for the Petitioner None for the Respondents ORDER P. C. 1. Heard Mr.Thakkar, learned counsel for the petitioner. None appears for the respondents, though it is submitted by Mr.Thakkar that petitioner had served the respondents, whereafter affidavit of service has been filed. 2. By filing this petition under Articles 226/227 of the Constitution of India, petitioner seeks a dire....

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....s. 68,33,07,135.00 and exempt income of Rs. 39,75,96,305.00. The return was processed under Section 143(3) of the Income Tax Act, 1961 and by the assessment order dated 29th December, 2019, respondent No.1 as the Assessing Officer added back an amount of Rs. 3,93,39,28,268.00 to the income of the petitioner under Section 68 of the Income Tax Act, 1961 (briefly "the Act" hereinafter) as unexplained....

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.... taking any decision on the stay application of the petitioner, respondent No.1 has attached the above three bank accounts of the petitioner by issuing garnishee notices under Section 226(3) of the Act. Not only that, respondent No.1 has withdrawn an amount of Rs. 1,29,42,486.00 from the above three bank accounts to the prejudice of the petitioner. 8. Faced with such a situation, the present wr....