1998 (1) TMI 60

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....ged the impugned judgment of the learned single judge of this court passed on January 25, 1990 (see [1990] 183 ITR 62). The appellant is a banking company within the meaning of the Banking Regulation Act, 1949. On July 18, 1979, the appellant received a letter dated July 16, 1979, from respondent No. 1 whereby respondent No. 1 required the appellant to furnish certain particulars of payments on....

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....titioner/appellant is not bound to furnish such information. Again, the appellant received a letter dated August 21, 1979, wherein it has been mentioned that the appellant has failed to discharge the obligation under section 192(1) of the Act and section 200 of the Act. Therefore, the proceedings under sections 201(1)/221 and 201(1A) of the Act are attracted. The appellant by a writ petition un....

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....ute Mills Co. Ltd. [1978] 112 ITR 568 wherein the provision of section 131(1) of the Act has been considered and in that case this court has observed that the power under section 131(1) can be exercised only for the purpose of deciding the case pending before him. He also further brought to our notice the provision of section 133(6) of the Act which has been amended in 1995 by inserting the word "....

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.... If any authority below the rank of Commissioner or Director wants any information from any person, he shall seek permission from the Director or Commissioner, in cases of enquiry. It is an admitted fact that no proceeding was pending against the assessee when the notices were issued. In view of the amendment of clause (6) of section 133 of the Act, and the view taken by the Bombay High Court i....