KARUR VYSYA BANK LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) HEARD Mr. N. Quadir Hoseyn, the learned counsel appearing on behalf of the petitioner and Ms. Pushya Sitaraman, the learned counsel appearing on behalf of the respondents.

(2.) THE above writ petitions have been filed challenging the proceedings issued by the first respondent, under Section 133(6) of the Income Tax Act, 1961, and to forbear the respondents from demanding information or details from the petitioner in pursuance of the notices issued, under Section 133(6) of the Income Tax Act, 1961.

(3.) IT is submitted that the notices had been issued to the petitioner under Section 133(6) of the Income Tax Act, 1961, to furnish the required information available in respect of persons who have cash transactions of over Rs.1 lakh or, who have offered security for available loan/O.D. of over Rs.50 lakhs.