ERIYAD SERVICE CO-OPERATIVE BANK LIMITED V. THE INCOME TAX OFFICER

WP(C)/40239/2017

AI Insights

The case involves Eriyad Service Co-operative Bank Limited, which challenged an assessment order issued by the Income Tax Officer for the assessment year 2008-09. The bank initially sought a stay on the demand for tax payment, which was partially granted by the Commissioner of Income Tax (Appeals), requiring the payment of 30% of the disputed tax. Dissatisfied with this condition, the bank filed a writ petition seeking an unconditional stay. The High Court of Kerala, referencing a similar case, granted the unconditional stay and directed the appellate authority to expedite the appeal's disposal.

• Counselvise Citation: [2018] 140 COUNSELVISE.COM (IT) 699195 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 12-01-2018
• Assessment Year: misc
• Other Referred Cases: W.P.(C.) No. 38566 of 2017
• Laws Referred To: Kerala Co-operative Societies Act, Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: P K MENON; JOSE JOSEPH; P C SASIDHARAN
• Assessee Lawyers: C A JOJO; JACOB CHACKO
• Keywords: Appeal; Income tax assessment; Primary Agricultural Credit Society; Unconditional Stay
• Section: 143(3)

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR FRIDAY, THE 12TH DAY OF JANUARY 2018 / 22ND POUSHA, 1939 WP(C).No. 40239 of 2017 (D) PETITIONER ERIYAD SERVICE CO-OPERATIVE BANK LIMITED, KODUNGALLUR, ERIYAD P.O., THRISSUR-680666, REPRESENTED BY THE SECRETARY, A.S.RAFI. BY ADVS.SRI.C.A.JOJO SRI.JACOB CHACKO. RESPONDENTS 1 THE INCOME TAX OFFICER, WARD NO.2(1), AYAKAR BHAVAN, THRISSUR, PIN-680 001. 2 THE COMMISSIONER OF INCOME TAX (APPEALS), OFFICE OF THE COMMISSIONER OF INCOME TAX (APPEALS), AYAKAR BHAVAN, THRISSUR-680 001. 3 THE MANAGER, THRISSUR DISTRICT CO-OPERATIVE BANK, ERIYAD BRANCH, ERIYAD P.O., PIN-680 666. R1-R2 BY ADVS. SRI.P.K.RAVINDRANATHA MENON (SR.) SRI.JOSE JOSEPH, SC. R3 BY ADV. SRI.P.C.SASIDHARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12-01-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Hr.... WP(C).No. 40239 of 2017 (D) APPENDIX PETITIONER(S)' EXHIBITS EXHIBIT P1 A TRUE COPY OF THE CERTIFICATE ISSUED BY THE ASST. REGISTRAR (GENERAL) KODUNGALLUR DATED 03.10.2014. EXHIBIT P2 A TRUE COPY OF THE ASSESSMENT ORDER DATED 22.03.2016 ISSUED BY THE FIRST RESPONDENT. EXHIBIT P3 A TRUE COPY OF THE DEMAND NOTICE DATED 22.03.2016 ISSUED BY THE FIRST RESPONDENT. EXHIBIT P4 A TRUE COPY OF THE APPEAL DATED 29.03.2016 FILED BY THE PETITIONER AGAINST ASSESSMENT ORDER FILED BEFORE THE 2ND RESPONDENT. EXHIBIT P5 A TRUE COPY OF THE STAY PETITION DATED 29.03.2016 FILED BY THE PETITIONER AGAINST THE DEMAND NOTICE FILED BEFORE THE 2ND RESPONDENT. EXHIBIT P6 A TRUE COPY OF THE ORDER ISSUED BY THE 2ND RESPONDENT DATED 24.05.2017. EXHIBIT P7 A TRUE COPY OF THE NOTICE NO.AAAAE7090H/W-2/TSR/2017-18 DATED 11.12.2017 ISSUED BY THE 1ST RESPONDENT TO THE 3RD RESPONDENT. RESPONDENT(S)' EXHIBITS NIL // TRUE COPY// P.S TO JUDGE. Hr.... P.B.SURESH KUMAR, J. ================== W.P.(C.) No.40239 of 2017 ---------------------------------------------- Dated this the 12th day of January, 2018 JUDGMENT Petitioner is a Primary Agricultural Credit Society registered under the Kerala Co-operative Societies Act. Ext.P2 is the assessment order of the petitioner under the Income Tax Act for the assessment year 2008-09. Ext.P2 order has been challenged by the petitioner in Ext.P4 appeal. Ext.P5 is the application preferred by the petitioner in Ext.P4 appeal for stay. Ext.P5 application has now been disposed of in terms of Ext.P6 order granting the stay sought for by the petitioner on condition that the petitioner shall pay 30% of the disputed tax. Ext.P6 order is under challenge in the writ petition. 2. Heard the learned counsel for the petitioner as also the learned Standing Counsel for the respondents. W.P.(C.) No.40239/2017 2 3. This Court has disposed of an identical case, as per the judgment in W.P.(C.) No. 38566 of 2017, granting the petitioner therein an unconditional stay, pending disposal of the appeal. In the light of the judgment aforesaid, the writ petition is allowed, modifying the impugned order and granting the petitioner unconditional stay pending disposal of the appeal against Ext.P2 order. Having regard to the peculiar facts and circumstances of this case, it is also directed that the appellate authority shall dispose of the appeal as expeditiously as possible. sd/- P.B. SURESH KUMAR, SKS JUDGE "