TMI Blog2020 (3) TMI 1032X X X X Extracts X X X X X X X X Extracts X X X X ..... s under Section 226(3) - HELD THAT:- We feel that it would meet the ends of justice if respondent No.1 takes a decision on the stay application of the petitioner in accordance with law within a period of 10 days from the date of receipt of an authenticated copy of this order. Ordered accordingly. Till the stay application is decided, there shall be no further withdrawal of money from the above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 direction to the respondents not to take any coercive steps for recovery of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ₹ 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 credit. Thus, the assessed income was quantified at ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etitioner, 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 Not only that, respondent No.1 has withdrawn an amount of ₹ 1,29,42,486.00 from the above three bank accounts to the prejudice of the petitioner. 8.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 writ petition has been filed. 9. After hearing l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty to move respondent No.4 for early hearing of the appeal as well as for stay of the outstanding demand and if such prayer is made, the same shall be considered in accordance with law by respondent No. 4. 13. However, if any decision is taken adverse to the petitioner by respondent No.1, the same shall not be given effect to for a period of two weeks thereafter. 14. Before parting with the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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