Held we are of the opinion that calling for information without prior approval of the CIT is a case of curable irregularity and it cannot be termed as nullity. We are of the opinion that no appeal lies against section 133(6) of the Act and this Tribunal cannot adjudicate upon validity of action of the… Read More »
Issue The notice under section 133(6) is not attracted in the case of a Co-operative Society Held Going by sub-clause (v) of section 2(31), which defines term ‘person’, and also in view of nature and construction of a co-operative society, it can be said that a co-operative society is a ‘ body corporate ‘ given… Read More »
Issue Whether section 133(6) of the Income-tax Act authorise issuance of notice to Cooperative Societies including Cooperative Banks ? Held yes, The Department is free to ask for information about any particular person or to call for general information in regard to any matter they consider necessary. Section 133(6) does not refer to any enquiry… Read More »
Cash Deposit more than Rs 250000 and Income Tax Notice u/s 133 for enquiry Section 133 of Income Tax Act gives power to the assessing officer to call for information.Sub section 6 of this section narrates that,the AO has the power to direct any person, banking company or from any of its officer, to furnish… Read More »
Held “In the instant case, by the impugned notice the assessing authority sought for information in respect of its customers which have cash transactions or deposits of Rs. 1,00,000/- or above for a period of three years, without reference to any proceeding or enquiry pending before any authority under the Act. Admittedly, in the present case… Read More »