https://www.taxtmi.com/caselaws?id=60933 The Appellate Tribunal ITAT Chandigarh overturned fines imposed on bank managers/chief managers for non-compliance with ADI summons under section 131(2) of the Income-tax Act. The Tribunal ruled that the requested information was not within the assessees' duty of secrecy and confidentiality towards customers. Additionally, it held that the term 'class' required a well-defined and ascertainable group, determining that the information sought did not pertain to a specific class. The Tribunal found the Revenue authorities' orders erroneous, emphasizing that income tax authorities cannot seek general information unrelated to specific cases or classes of persons. Consequently, the fines were overturned in favor of the assessees in all three appeals. en-us Wed, 23 Jul 1997 00:00:00 +0530 Sat, 08 Jan 2011 16:43:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60933 The Appellate Tribunal ITAT Chandigarh overturned fines imposed on bank managers/chief managers for non-compliance with ADI summons under section 131(2) of the Income-tax Act. The Tribunal ruled that the requested information was not within the assessees' duty of secrecy and confidentiality towards customers. Additionally, it held that the term 'class' required a well-defined and ascertainable group, determining that the information sought did not pertain to a specific class. The Tribunal found the Revenue authorities' orders erroneous, emphasizing that income tax authorities cannot seek general information unrelated to specific cases or classes of persons. Consequently, the fines were overturned in favor of the assessees in all three appeals. Case-Laws Income Tax Wed, 23 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60933