Kulathufuzha Service Co-operative Bank Ltd. vs Income Tax Officer (Intelligence) and Another

V. Chitambaresh, J.—The challenge to similar notices issued by the income tax Department has been turned down by the judgment dated December 12, 2013 in W. P. (C) No. 30486 of 2013 and connected cases. The learned single judge has followed the decision of the Supreme Court in Kathiroor Service Cooperative Bank Ltd. Vs. Commissioner of Income Tax (CIB) and Others, . The Supreme Court has affirmed the decision of the Division Bench of this court in The Chavassery Service Co-Operative Bank Ltd. and Others Vs. Income Tax Officer and Others, The opinion of the income tax Officer is manifest by his conduct in issuing the notices u/s 133(6) of the income tax Act, 1961 (see Dolgobinda Paricha Vs. Nimai Charan Misra and Others,

The co-operative bank should not feel shy to furnish the information sought by the income tax Department in order to ensure that the transactions of the depositors are wholly transparent. The petitioner is, however, free to move the authority for granting extension of time to furnish the particulars which shall be dealt with in accordance with law.

The writ petition is dismissed.