M V RAJENDRAN Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE petitioners in all these original petitions are either co-operative societies or co-operative banks registered under the Kerala Co-operative Societies Act engaged in advancing loans to its members. Even though the societies are constituted to serve to various categories of people such as farmers, employees in companies, small traders, etc., their activities are essentially the same, i.e., advancing loans to its members and accepting deposits from members and public. THEse co-operative banks and societies are challenging the validity of notices issued to each of them under Section 133(6) of the Income-tax Act by various authorities under the Act. A specimen of the notices issued to the petitioner in O. P. No. 35300 of 2002, is extracted hereunder :

(2.) IDENTICAL notices as above received by other petitioners in the other original petitions are under challenge. Even though particulars are called for on various transactions of the society and their associates, the main grievance of the petitioners is against Clause (7) of the impugned notice calling for names and addresses and other details of the depositors who have deposits above Rs. 50,000.

(3.) THE first question to be examined is whether notice under Section 133(6) of the Income-tax Act can be issued to a co-operative society including a co-operative bank. Section 133 is extracted hereunder :