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

WP(C)/12765/2023

AI Insights

The case involves Kallamkunnu Service Co-operative Bank Limited, which is a primary agricultural credit society registered under the Kerala Cooperative Societies Act, 1969. The petitioner challenged an assessment order issued by the Income Tax Officer, which rejected the petitioner's claim for deduction under Section 80P of the Income Tax Act. The petitioner relied on a Supreme Court judgment in Mavilayi Service Cooperative Bank Ltd. v. Commissioner of Income Tax, which they argued rendered the assessment incorrect. The High Court of Kerala, considering the ongoing appeal and stay petition before the Commissioner of Income Tax (Appeals), directed the Commissioner to expedite the consideration of these matters.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 761983 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 11-04-2023
• Assessment Year: misc
• Other Referred Cases: Mavilayi Service Cooperative Bank Ltd. v. Commissioner of Income Tax; 2021 (1) KLT 485
• Laws Referred To: Kerala Cooperative Societies Act, 1969, Section 80P
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: K S NAIR; HARIMA HARIHARAN; G REMADEVI; RAJATH NATH; MOHANA B
• Keywords: Appeal; Assessment Order; Deduction; Income Tax; Stay Petition
• Section: 80P

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE T.R.RAVI TUESDAY, THE 11TH DAY OF APRIL 2023 / 21ST CHAITHRA, 1945 WP(C) NO. 12765 OF 2023 PETITIONER: KALLAMKUNNU SERVICE CO-OPERATIVE BANK LIMITED KALLAMKUNNU P.O., NADAVARAMBA, THRISSUR, REPRESENTED BY ITS SECRETARY SRI. GANESH C.K, PIN – 680 683 BY ADVS. K.S.HARIHARAN NAIR HARIMA HARIHARAN G.REMADEVI RAJATH R NATH MOHANA KUMAR B. RESPONDENTS: 1 THE INCOME TAX OFFICER WARD 2(2), AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSSUR, PIN – 680 001 2 ASSESSMENT UNIT NEAC, MAYUR BHAWAN, CONNAUGHT LANE, NEW DELHI, PIN – 110 001 3 COMMISSIONER OF INCOME TAX (APPEALS) NATIONAL FACELESS APPEAL CENTRE, DELHI, C-BLOCK, 4TH FLOOR, S.P.M CIVIC CENTER, NEW DELHI, PIN – 110 001 SRI. JOSE JOSEPH, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12765 OF 2023 2 T . R. RA V I , J . - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - WP ( C ) No . 1 2 7 6 5 o f 2 0 2 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Da t e d t h i s t h e 1 1 t h d a y o f A p r i l , 2 0 2 3 J UDGME NT P e t i t i o n e r i s a P r i ma r y A g r i c u l t u r a l C r e d i t S o c i e t y r e g i s t e r e d u n d e r t h e K e r a l a C o o p e r a t i v e S o c i e t i e s A c t , 1 9 6 9 . E x t . P 1 o r d e r o f a s s e s s me n t wa s i s s u e d a g a i n s t t h e p e t i t i o n e r . I n t h e a s s e s s me n t o r d e r , p e t i t i o n e r ' s c l a i m f o r d e d u c t i o n u n d e r S e c t i o n 8 0 P wa s r e j e c t e d o n t h e g r o u n d t h a t t h e r e wa s n o e v i d e n c e t o s h o w t h a t t h e p e t i t i o n e r s a t i s fi e d t h e i n g r e d i e n t s o f t h e P r i ma r y A g r i c u l t u r a l C r e d i t S o c i e t y a s c o n t e mp l a t e d u n d e r t h e K e r a l a C o - o p e r a t i v e S o c i e t i e s A c t . 2 . Wh i l e a s s a i l i n g t h e a s s e s s me n t o r d e r b e f o r e t h e 2 n d r e s p o n d e n t , p e t i t i o n e r r e l i e d o n t h e j u d g me n t o f t h e S u p r e me C o u r t i n Ma v i l a y i S e r v i c e C o o p e r a t i v e B a n k L t d . v . C o mmi s s i o n e r o f I n c o me T a x ; 2 0 2 1 ( 1 ) KL T 4 8 5 n o w g o v e r n s t h e fi e l d t h e r e b y r e n d e r i n g t h e a s s e s s me n t i t s e l f a s i n c o r r e c t . 3 . S i n c e t h e p e t i t i o n e r h a s a l r e a d y p r e f e r r e d a n a p p e a l a s WP(C) NO. 12765 OF 2023 3 E x t . P 2 a n d E x t . P 3 s t a y p e t i t i o n a n d t h e s a me i s p e n d i n g c o n s i d e r a t i o n b e f o r e t h e 3 r d r e s p o n d e n t , I d e e m i t fi t t h a t t h i s wr i t p e t i t i o n b e d i s p o s e d o f d i r e c t i n g t h e 3 r d r e s p o n d e n t t o c o n s i d e r t h e E x t . P 2 a p p e a l a n d E x t . P 3 s t a y p e t i t i o n i n a t i me b o u n d ma n n e r . 4 . A c c o r d i n g l y , t h e r e wi l l b e a d i r e c t i o n t o t h e 3 r d r e s p o n d e n t t o c o n s i d e r a n d p a s s a p p r o p r i a t e o r d e r s o n E x t s . P 2 a n d P 3 a s e x p e d i t i o u s l y a s p o s s i b l e w i t h i n a p e r i o d o f 2 mo n t h s f r o m t h e d a t e o f r e c e i p t o f a c o p y o f t h i s j u d g me n t . 5 . T i l l t h e d i s p o s a l o f t h e a p p e a l , n o c o e r c i v e s t e p s s h a l l b e i n i t i a t e d a g a i n s t t h e p e t i t i o n e r p u r s u a n t t o E x t . P 1 . S d / - T . R. RA V I s n J UDGE WP(C) NO. 12765 OF 2023 4 APPENDIX OF WP(C) 12765/2023 PETITIONER'S EXHIBITS Exhibit P1 COPY OF ASSESSMENT ORDER DATED 05-09-2022 ISSUED BY THE 2ND RESPONDENT FOR THE ASSESSMENT YEAR 2020-21 Exhibit P2 COPY OF APPEAL MEMORANDUM FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT DATED 07-10-2022 AGAINST EXT.P1. Exhibit P3 COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT DATED 07-10-2022 IN EXT. P2 APPEAL RESPONDENT'S EXHIBITS : NIL //TRUE COPY// PA TO JUDGE "