https://www.taxtmi.com/caselaws?id=16385 The court found the order passed by the Income-tax Officer unjustified and arbitrary, as the bank had no authority to question employees' investments. The orders of the Commissioner under sections 264 and 154 were deemed arbitrary and in excess of jurisdiction, leading to their quashing. The petitioner-bank was entitled to a refund of the tax and interest collected, with respondents directed to refund the amount with interest and bear determined costs. The writ petition was allowed in favor of the petitioner-bank. en-us Thu, 07 Aug 1997 00:00:00 +0530 Mon, 07 Sep 2009 14:42:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16385 The court found the order passed by the Income-tax Officer unjustified and arbitrary, as the bank had no authority to question employees' investments. The orders of the Commissioner under sections 264 and 154 were deemed arbitrary and in excess of jurisdiction, leading to their quashing. The petitioner-bank was entitled to a refund of the tax and interest collected, with respondents directed to refund the amount with interest and bear determined costs. The writ petition was allowed in favor of the petitioner-bank. Case-Laws Income Tax Thu, 07 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16385