2011 (1) TMI 1109 - HC - Income Tax

Direction of the Income Tax Department to furnish details of depositors having more than Rs.1 lakh deposit with the bank - Held that - Supreme Court has granted a stay in SLP No.3976/2010 against a judgment of this Court in W.A.No.1854/2009 in which a similar challenge was upheld - this writ petition may be disposed of without prejudice to the right of the Income Tax Department to take further action in accordance with the orders to be passed in the said SLP. Decided in favor of the assessee

Summary

The Kerala High Court ruled in favor of a Co-operative Bank aggrieved by the Income Tax Department's directive to disclose depositors with over Rs.1 lakh. The court directed that the order not be enforced until a decision is made by the Supreme Court in a related case.