M/S.KARAKULAM SERVICE CO OPERATIVE BANK LTD. V. THE INCOME TAX OFFICER

WP(C)/570/2020

AI Insights

The case involves M/s. Karakulam Service Cooperative Bank Ltd., which challenged an order (Ext.P6) issued by the First Appellate Authority under the Income Tax Act. This order was a result of a rectification of the earlier First Appellate Order (Ext.P2). The bank had previously contested the original assessment order (Ext.P1) and the subsequent First Appellate Order, leading to a modified assessment order (Ext.P3). Aggrieved by the rectified order (Ext.P6), the bank filed an appeal (Ext.P7) and a stay application (Ext.P7(a)) with the Income Tax Appellate Tribunal. The High Court's decision was to ensure a prompt hearing of the stay application by the Tribunal and to halt any enforcement actions until a decision on the stay was made.

• Counselvise Citation: [2020] 140 COUNSELVISE.COM (IT) 695453 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 10-01-2020
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: CHRISTOPHER ABRAAM
• Assessee Lawyers: T M SREEDHARAN; NISHA JOHN; V P NARAYANAN
• Keywords: Assessment Order; First appellate order; Income Tax; Modified assessment order; Stay Application
• Section: 250; 154

Judgement Text

"W.P.(c)No.570/2020 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE ALEXANDER THOMAS FRIDAY, THE 10TH DAY OF JANUARY 2020 / 20TH POUSHA, 1941 WP(C).No.570 OF 2020(U) PETITIONER: M/S.KARAKULAM SERVICE CO OPERATIVE BANK LTD. KP-1/382, KARAKULAM P.O., NEDUMANGAD, TRIVANDRUM- 695564, REPRESENTED BY ITS SECRETARY, SHRI.K.PADMAKUMAR. BY ADVS. SRI.T.M.SREEDHARAN (SR.) SMT.NISHA JOHN SRI.V.P.NARAYANAN RESPONDENT: 1 THE INCOME TAX OFFICER WARD 2(3), THIRUVANANTHAPURAM- 695003. 2 THE COMMISSIONER OF INCOME TAX (APPEALS), 2ND FLOOR, AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM- 695003. 3 THE ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, 1ST FLOOR, (BLOCK C-1 AND C-II), KENDRIYA BHAVAN, OPP.CSEZ, KAKKANAD, COCHIN- 682037. OTHER PRESENT: SRI.CHRISTOPHER ABRAAM, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(c)No.570/2020 2 ALEXANDER THOMAS, J. ------------------------------------------- W.P .(C)No.570 of 2019 ---------------------------------------------- Dated this the 10th day of January, 2020 JUDGMENT Ext.P1 is stated to be the assessment order in this case,which has been challenged in the First Appeal and which has now resulted in Ext.P2 First Appellate Order. Pursuant to Ext.P2 First Appellate Order, the assessment authority has issued Ext.P3 modified assessment order so as to be in tune with Ext.P2 First Appellate Order. Thereafter, it appears that the First Appellate Authority has rectified Ext.P2 First Appellate Order, which has resulted in the impugned Ext.P6 order. Aggrieved by Ext.P6 order, the petitioner has preferred Ext.P7 appeal before the Income Tax Appellate Tribunal which has been filed within time and Ext.P7 (a) stay application has been field in Ext.P7 appeal before the said Appellate Tribunal. 2. Taking note of the facts and circumstances of the case, it is ordered that the Income Tax Appellate Tribunal may consider the matter in Ext.P7(a) stay application and after affording reasonable opportunity of being heard to the petitioner and the W.P.(c)No.570/2020 3 departmental authorities concerned may pass orders on the stay application, without much delay preferably within a period 2-3 months from the date of production certified copy of this judgment. Until orders are passed disposing of Ext.P7 stay application, further coercive steps for enforcement of the impugned proceedings shall be kept in abeyance. With these observations and directions, the above Writ Petition (Civil) will stand disposed of. sd/ ALEXANDER THOMAS, JUDGE. acd W.P.(c)No.570/2020 4 APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 A TRUE COPY OF THE ASST.ORDER DATED 23.10.2016 ALONG WITH DEMAND NOTICE. EXHIBIT P2 TRUE COPY OF THE ORDER OF THE SECOND RESPONDENT IN ITA NO.91/EF/TVM/CIT(A)/TVM/2017-18 DATED 27.11.2018. EXHIBIT P3 TRUE COPY OF MODIFIED ORDER DATED 18.12.2018 FOR THE ASST.YEAR 2011-12 ALONG WITH DEMAND NOTICE. EXHIBIT P4 TRUE COPY OF THE JUDGMENT DATED 03.04.2019 IN WPC 10371/2019 OF THIS HON'BLE COURT. EXHIBIT P5 TRUE COPY OF CHALLAN DATED 29.04.2019 FOR RS.22.56,350/- EXHIBIT P6 A TRUE COPY OF THE ORDER U/S.154 R.W.S 250 OF THE ACT DATED 03.09.2019 IN ITA NO.91/EF/TVM/CIT(A)/TVM/2017-18. EXHIBIT P7 TRUE COPIES OF THE MEMORANDUM OF APPEAL DATED 05.10.2019 FILED BEFORE THE 3RD RESPONDENT. EXHIBIT P7(A) TRUE COPY OF THE STAY PETITION DATED 05.10.2019 FILED BEFORE THE 3RD RESPONDENT. "