Section 133(6) information notices upheld for co-operative bank, with transparency in depositors' transactions reinforced.

Notices issued under Section 133(6) of the Income-tax Act calling for information from a co-operative bank were upheld, as similar notices had already been affirmed by the Supreme Court and the bank was expected to furnish the information sought to promote transparency in depositors' transactions. The challenge to the notices failed, and the notices were sustained. The bank was left free to seek extension of time from the authority for furnishing the particulars.

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Issues: Whether notices issued under Section 133(6) of the Income-tax Act, 1961 calling for information from the co-operative bank were liable to be interfered with.

Analysis: The notices were upheld on the basis that the Supreme Court had already affirmed the legality of similar notices and the bank was expected to furnish the information sought by the Income Tax Department to ensure transparency of depositors' transactions. The petitioner was left free to seek extension of time from the authority for furnishing particulars.

Conclusion: The challenge to the notices failed and the notices under Section 133(6) were sustained.

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