9911796707
TMI Blog1997 (7) TMI 188X X X X Extracts X X X X X X X X Extracts X X X X ..... ke of convenience. 2. The assessees are bank manager/chief manager. ADI called for certain information by issuing summons under section 131 of the Income-tax Act, 1961 regarding the persons who have purchased demand drafts against the cash payments exceeding Rs. 50,000 during the financial year 1987-88 or in the alternative to produce the demand drafts issue register maintained for the abovesaid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion, rejected the appeals. 3. In I.T.A. No. 1375/(Chd.)/91, it was found that appeal is late by one day and on examining the relevant record, it is found that this appeal was sent by post and delay of one day might have been caused due to postal delay. We, therefore, condone the delay of one day and admit this appeal for hearing 4. Learned D.R. supported the orders of authorities below and pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ects, (b) a group that has the element of permanency or stability, and (c) a group sufficiently numerous and widespread to be designated as a 'class' and these definitions have been approved by Hon'ble Supreme Court in the case of AIR 1968 SC 1382. So, purchasers of draft against cash exceeding Rs. 50,000 cannot be held to be a class and calling for such information by income-tax authorities while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can he require the bank, which is under a legal duty of secrecy and confidentiality towards its customers, to supply information pertaining to all account-holders having a certain credit balance or all purchasers of bank drafts or travellers cheques above a certain monetary limit, because such an inquiry cannot be said to relate to a "class of persons". In view of above authoritative elucidation, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
