FEDERAL BANK LTD. V. THE DEPUTY COMMISSIONER OF INCOME TAX

WP(C)/2907/2013

AI Insights

The case involves Federal Bank Limited, represented by its Managing Director & CEO, Mr. Shyam Srinivasan, as the petitioner, and the Deputy Commissioner of Income Tax and the Commissioner of Income Tax (Appeals) as respondents. The petitioner challenged the assessment orders for various years, which collectively imposed a tax liability of 1,255.65 crores. Despite having paid 868.98 crores, the petitioner feared further coercive actions for the remaining balance. The court heard the arguments and decided to stay further recovery actions while directing the appeals to be heard expeditiously.

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 769796 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 31-01-2013
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: JOSEPH MARKOSE; V MARKOS; MATHEWS UTHUPPACHAN; BINU MATHEW; TERRY JAMES; TOM THOMAS
• Keywords: Appeal Pending; Coercive Action; Income tax assessment; Stay on recovery
• Section: 143(3)

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE ANTONY DOMINIC THURSDAY, THE 31ST DAY OF JANUARY 2013/11TH MAGHA 1934 WP(C).No. 2907 of 2013 (K) -------------------------- PETITIONER(S): -------------------------- FEDERAL BANK LIMITED., ALUVA,REPRESENTED BY ITS MANAGING DIRECTOR & CEO, MR. SHYAM SRINIVASAN. BY SRI.JOSEPH MARKOSE,SENIOR ADVOCATE BY ADVS. SRI.V.ABRAHAM MARKOS SRI.MATHEWS K.UTHUPPACHAN SRI.BINU MATHEW SRI.TERRY V.JAMES SRI.TOM THOMAS (KAKKUZHIYIL) RESPONDENT(S): ---------------------------- 1. THE DEPUTY COMMISSIONER OF INCOME TAX, ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE 4(2), INCOME TAX OFFICES,CENTRAL REVENUE BUILDING, I.S PRESS ROAD,KOCHI 682 018. 2. THE COMMISSIONER OF INCOME TAX (APPEALS), 2ND FLOOR, SAN JUAN TOWERS, OLD RAILWAY STATION ROAD, KOCHI - 682 018. R1 & R2 BY ADV. SRI.JOSE JOSEPH, SC, INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31-01-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.2907/2013 K APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF ASSESSMENT ORDER DTD. 30/12/2010 FOR ASSESSMENT YEAR 2003-04. P2: COPY OF ASSESSMENT ORDER DTD. 30/12/2010 FOR ASSESSMENT YEAR 2005-06. P3: COPY OF ASSESSMENT ORDER DTD. 29/12/2010 FOR ASSESSMENT YEAR 2006-07. P4: COPY OF ASSESSMENT ORDER DTD. 31/12/2009 FOR ASSESSMENT YEAR 2007-08. P5: COPY OF ASSESSMENT ORDER DTD. 09/12/2010 FOR ASSESSMENT YEAR 2008-09. P6: COPY OF ASSESSMENT ORDER DTD. 30/12/2011 FOR ASSESSMENT YEAR 2009-10. P7: COPY OF APPEAL DTD. 25/01/2011 FOR ASSESSMENT YEAR 2003-04 FILED BEFORE THE 2ND RESPONDENT. P8: COPY OF APPEAL DTD. 25/01/2011 FOR ASSESSMENT YEAR 2005-06 FILED BEFORE THE 2ND RESPONDENT. P9: COPY OF APPEAL DTD. 25/01/2011 FOR ASSESSMENT YEAR 2006-07 FILED BEFORE THE 2ND RESPONDENT. P10: COPY OF APPEAL DTD. 25/01/2010 FOR ASSESSMENT YEAR 2007-08 FILED BEFORE THE 2ND RESPONDENT. P11: COPY OF APPEAL DTD. 11/01/2011 FOR ASSESSMENT YEAR 2008-09 FILED BEFORE THE 2ND RESPONDENT. P12: COPY OF APPEAL DTD. 25/01/2012 FOR ASSESSMENT YEAR 2009-10 FILED BEFORE THE 2ND RESPONDENT. Kss ..2/- ..2.... WPC.NO.2907/2013 K P13: COPY OF STAY PETITION DTD. 13/01/2011 FOR ASSESSMENT YEAR 2003-04. P14: COPY OF STAY PETITION DTD. 13/01/2011 FOR ASSESSMENT YEAR 2005-06. P15: COPY OF STAY PETITION DTD. 13/01/2011 FOR ASSESSMENT YEAR 2006-07. P16: COPY OF STAY PETITION DTD. 13/01/2011 FOR ASSESSMENT YEAR 2007-08. P17: COPY OF STAY PETITION DTD. 13/01/2011 FOR ASSESSMENT YEAR 2008-09. P18: COPY OF STAY PETITION DTD. 27/01/2012 FOR ASSESSMENT YEAR 2009-10. P19: COPY OF STAY PETITION DTD. 29/03/2011 PASSED BY THE 1ST RESPONDENT. P20 COLLECTIVELY: COPIES OF POSTING NOTICES DTD. 17/03/2010, 6/07/2010, 04/012011, 1/05/2011 AND 30/11/2011. P21: COPY OF ORDER DTD. 19/01/2012 PASSED BY THE 1ST RESPONDENT. P22: COPY OF THE ORDER DTD. 15/02/2012 PASSED BY THE JOINT COMMISSIONER OF INCOMETAX, RANGE 4, KOCHI. P23: COPY OF THE LETTER DTD. 28/06/2012 FROM THE PETITIONER TO THE 1ST RESPONDENT. P24: COPY OF THE LETTER DTD. 22/10/2012 FROM THE 1ST RESPONDENT TO THE PETITIONER. P25: COPY OF THE LETTER DTD. 25/10/2012 FROM THE PETITIONER TO THE 1ST RESPONDENT. P26: COPY OF THE NOTE DTD. 15/01/2013 GIVEN BY THE PETITIONER TO THE 1ST RESPONDENT. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.S.TO JUDGE Kss ANTONY DOMINIC, J. ------------------------------------------- W.P(C).No.2907 of 2013 ------------------------------------------- Dated this the 31st day of January, 2013 JUDGMENT 1.Heard senior counsel for the petitioner and the standing counsel for the respondents. 2. Exts.P1 to P6 are the assessment orders under the Income Tax Act, passed against the petitioner for the assessment years 2003-04 and 2005-06 to 2009-10. By these orders, the total liability fastened on the petitioner is `1,255.65 crores. Aggrieved by these assessment orders, the petitioner has filed Exts.P7 to P12 appeals. These appeals are pending. It is stated that in the mean while, pursuant to the orders passed by the first respondent, the petitioner has already remitted `868.98 crores. Despite the substantial payments made, the petitioner apprehends that coercive action will still be initiated for recovery of the balance amount due under the assessment orders. It is therefore, that this writ petition is filed. WPC.2907/13 2 3.Evidently, the appeals filed by the petitioner are statutory appeals. Therefore, I direct the second respondent to consider Exts.P7 to P12 appeals with notice to the petitioner as expeditiously as possible, at any rate, within a period of six months from the date of receipt of a copy of this judgment. 4.In the meanwhile, having regard to the substantial payments already made by the petitioner, I direct that recovery of the balance amount due under Exts.P1 to P6 assessment orders will stand stayed. The petitioner will produce a copy of this judgment along with copy of the writ petition before the second respondent for compliance. The writ petition is disposed of as above. Sd/- ANTONY DOMINIC Judge kkb.1/2. "