2009 (11) TMI 916

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....ppellants in the writ appeals and petitioners in the writ petitions are societies registered under the Kerala Co-operative Societies Act engaged in banking. Various IT authorities have issued notices to the appellants/ petitioners under s. 133(6) of the IT Act. 1961, (hereinafter called the "Act") calling for particulars of cash transactions above Rs. 1 lakh with details of account holder/deposit holder in the format prepared by the authority issuing the notices. The societies challenged the validity of the notices before this Court by filing writ petitions. Two learned Single Judges have written separate judgments upholding the validity of the notices issued under s. 133(6) of the Act, against which writ appeals are filed. In the connected....

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....ourt held is that in such cases, details could be called for by the officer concerned with the approval of the Director or the CIT, as the case may be. Following this, the above judgment of the learned Single Judge is confirmed by a Division Bench of this Court in the decision in Rechery Service Co-operative Bank Ltd. v. CIT (2003) 182 CTR (Ker) 517 : (2003) 263 ITR 161 (Ker). In view of the decisions above referred, the questions raised are no longer res integra. Even though counsel for the appellants/petitioners referred to judgment of the Bombay High Court in D.B.S. financial Services (P) Ltd. v. Smt M. George, Second ITO (1993) 115 CTR (Bom) 318 : (1994) 207 ITR 1077 (Bom) and the judgment of the Calcutta High Court in Grindlays Bank Lt....

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.... will verify the same and if no approval is obtained, he will recall the notice. However, the authority concerned can issue fresh notice after getting approval from the Director or the CIT, as the case may be. Since all the issues raised are covered by judgments above referred subject to the direction above, we have to only dismiss the writ appeals and writ petitions upholding the judgments of the learned Single Judges and the impugned notices issued and produced in the fresh writ petitions filed. 4. Counsel for the appellants/petitioners submitted before us their problems in regard to collection and furnishing of details pertaining to three years within a short time. In the first place, we feel that the notices do not pertain to loans a....