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TMI Blog2020 (3) TMI 1032X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 direction to the respondents not to take any c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 credit. Thus, the assessed income was quant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Not only that, respondent No.1 has withdrawn an amount of Rs. 1,29,42,486.00 from the above three bank accounts to the prejudice of the petitioner. 8.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 writ petition has been filed. 9. After hearing learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent 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 record, it is mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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