1999 (6) TMI 2

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..... ction 133(6) of the Income-tax Act, 1961, in respect of the deposits of Rs. 50,000 and above during the financial year 1997-98, i.e., from April 1, 1997 to March 31, 1998. The information was required to be furnished within one week in respect of the name of the depositors/deposits, complete postal address of the depositor, amount and date of deposit, rate of interest and term of deposit. It was m .....

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..... oints or matters as in the opinion of the said authorities will be useful for, or relevant to, any inquiry or proceeding under this Act. The information which is desired could be asked by the Assessing Officer and the appellate authority and, therefore, has to be in relation to any enquiry or proceedings under the Act. The word "proceeding" has been interpreted in a number of cases to refer to the .....

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..... ing is not pending power in respect of an enquiry could be exercised by virtue of the second proviso of section 133(6). That enquiry could be even in a case where no proceedings are pending. It has not come on record that the Commissioner or the Director has given the approval in the present case. From the notice issued it is not evident that any proceeding under the Act were pending or for the pu .....

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