M/s.Perinthalmanna Service Co-op Bank Ltd, Malappuram V. The ITO, Tirur

CO 7/COCH/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 5376 (ITAT-COCHIN)
• Duration Of Justice: 2 month(s) 29 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 07-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 08-07-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: B SAJJIV
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJARI, AM & SHRI GEORGE MATHAN, JM ITA N O . 259 /COC H/ 2020 : ASST.YEAR 2009 - 2010 ITA N O . 260 /COC H/ 2020 : ASST.YEAR 20 1 0 - 201 1 ITA N O . 261 /COC H/ 2020 : ASST.YEAR 201 1 - 201 2 ITA N O . 262/COC H/ 2020 : ASST.YEAR 2012 - 2013 THE INCOME TAX OFFICER WARD 4 TIRUR. VS. M/S.PERINTHALMANNA SERVICE CO - OPERATIVE BANK LIMITED, PB NO.14, PERINTHALMANNA MALAPPURAM 679 322. PAN : AAATP5698R. (APPELLANT) (RESPONDENT) CO N O . 04/COC H/ 2020 : ASST.YEAR 2009 - 2010 CO N O . 05/COC H/ 2020 : ASST.YEAR 2010 - 2011 CO N O . 06/COC H/ 2020 : ASST.YEAR 2011 - 2012 CO N O . 07/COC H/ 2020 : ASST.YEAR 2012 - 2013 M/S.PERINTHALMANNA SERVICE CO - OPERATIVE BANK LIMITED, PB NO.14, PERINTHALMANNA MALAPPURAM 679 322. VS. THE INCOME TAX OFFICER WARD 4 TIRUR. ( CROSS OBJECTOR ) (RESPONDENT) REVENUE BY : SRI. B.SAJJIV, SR.DR ASSESSEE BY : SRI. SHAJI POULOSE, CA DATE OF HEARING : 07.10.2020 DATE OF PRONOUNCEMENT : 07.10.2020 O R D E R PER BENCH : THESE ARE APPEALS FILED BY THE REVENUE AGAINST THE ORDERS OF THE LEARNED CIT(APPEALS), KOZHIKODE, ALL DATED 20.03.2017 . THE ASSESSEE HAS PREFERRED CROSS OBJECTIONS TO SUPPORT THE ORDERS OF THE CIT(A). THE RELEVANT ASSESSMENT YEAR S ARE 2009 - 2010, 2010 - 2011, 2011 - 2012 AND 2012 - 2013. ITA NO . 259 - 262 /COCH/2020 CO NOS.04 - 07/COCH/2020 . M/S. PERINTHALMANNA SCB LIMITED. 2 2. SRI . B.SAJJIV, SENIOR DEPARTMENTAL REPRESENTATIVE , R EPRESENTED ON BEHALF OF THE REVENUE AND SRI. SHAJI POULOSE, CHARTERED ACCOUNTANT REPRESENTED ON BEHALF OF THE ASSESSEE . 3. IN THESE APPEALS FILED BY THE REVENUE, THERE IS A DELAY OF 1112 DA YS. THE ORDER OF THE CIT(A) IS OF FEBRUARY 2017. THE LEARNED ITO, WARD - 4, TIRUR HAS FILED AN AFFIDAVIT MENTIONING THAT THERE HAS BEEN CHANGE IN THE LAW INSOFAR AS A SUBSEQUENT DECISION OF THE FULL BENCH OF THE HONBLE JURISDICTIONAL HIGH COURT OF KERALA IN THE CASE OF THE MAVILAYI SERVICE CO - OPEATIVE BANK LTD. V. CIT [ITA NO.97/2016 ORDER DATED 19 TH MARCH, 2019] APPLIES AND CONSEQUENTLY THE ORDER OF THE CIT(A) IS LIABLE TO BE REVERSED. IN THE AFFIDAVIT, NO REASON FOR THE DELAY IS MENTIONED OTHER THAN STATIN G THAT THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CHIRAKKAL SERVICE CO - OPERATIVE BANK LTD. V. CIT [(2016) 384 ITR 490 (KER.)] WAS NOT GOOD LAW AND THE DECISION IN THE CASE OF PERINTHALMANNA SERVICE CO - OPERATIVE BANK LTD. REPORTED IN 363 ITR 268 WAS THE CORRECT PROPOSITION IN LAW. ON BEHALF OF THE ASSESSEE, THERE IS VEHEMENT OBJECTION IN RESPECT OF THE CONDONATION OF THE DELAY. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. ADMITTEDLY, THE ORDER OF THE CIT(A) IS OF FEBRUARY 2017. THE TIME LIMIT FOR FILING APPEAL AGAINST THE ORDER OF THE CIT(A) BEFORE THE TRIBUNAL IS 60 DAYS. THE ORDER GIVING EFFECT TO THE ORDER OF THE CIT(A) AS PROVID ED IN THE PROVISIONS OF SECTION 153(5) HAS ALSO EXPIRED. AS PER THE AFFIDAVIT FILED BY THE REVENUE, THE DECISION OF THE FULL BENCH OF THE HONBLE JURISDICTIONAL HIGH COURT IN ITA NO . 259 - 262 /COCH/2020 CO NOS.04 - 07/COCH/2020 . M/S. PERINTHALMANNA SCB LIMITED. 3 THE CASE OF THE MAVILAYI SERVICE CO - OPEATIVE BANK LTD. V. CIT REFERRED TO SU PRA, WAS DELIVERED ON 19.03.2019. THESE APPEALS HAVE BEEN FILED ONLY ON 18.06.2020 AFTER AN INORDINATE DELAY. CONSEQUENTLY, AS NO REASONS HAVE BEEN GIVEN FOR THE DELAY IN FILING OF THESE APPEALS AND ON ACCOUNT OF THE FACT THAT THE TIME LIMIT FOR GIVING EFF ECT TO THE ORDER OF THE LEARNED CIT(A) HAS EXPIRED AND THE ISSUE HAS NOW REACHED FINALITY FOR THE IMPUGNED ASSESSMENT YEARS IN RESPECT OF THE ASSESSEE, IT WOULD NOT BE APPROPRIATE TO DISTURB SUCH FINALITY. CONSEQUENTLY, THE DELAY IN FILING OF THESE APPEALS OF 1112 DAYS IS NOT CONDONED AND THE APPEALS OF THE REVENUE STAND DISMISSED. AS THE APPEALS OF THE REVENUE ARE DISMISSED ON THE GROUND OF DELAYED FILING OF THE APPEALS BEFORE THE TRIBUNAL, WE ARE NOT GOING INTO THE MERITS OF THE ISSUES. 5. SINCE WE HAVE DISMISSED THE APPEALS FILED BY THE REVENUE AS TIME BARRED, THE CROSS OBJECTIONS FILED BY THE ASSESSEE BEING IN SUPPORT OF THE ORDERS OF THE LEARNED CIT(A), THE SAME ARE INFRUCTUOUS , AND THE SAME STAND DISMISSED. 6 . IN THE RESULT, THE APPEAL S FILED BY THE REVENUE AND CROSS OBJECTIONS FILED BY THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED ON THIS 07 TH DAY OF OCTOBER, 2020 . SD/ - SD/ - ( CHANDRA POOJARI ) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN , DATED 07 TH OCTOBER , 2020 DEVADAS G* ITA NO . 259 - 262 /COCH/2020 CO NOS.04 - 07/COCH/2020 . M/S. PERINTHALMANNA SCB LIMITED. 4 COPY TO : 1. THE APPELLANT. 2. THE RESPONDENT 3 . THE CIT(A) KOZHIKODE. 4. THE PR.CIT, KOZHIKODE . 5. THE DR, ITAT, KOCHI 6. GUARD FILE. ASST.REGISTRAR/ITAT/KOCHI