KARAMUCK SERVICE CO-OPERATIVE BANK LTD NO.16 V. THE COMMISSIONER OF INCOME TAX (APPEALS)

WP(C)/22073/2021

AI Insights

The case involves Karamuck Service Co-operative Bank Ltd, a Primary Agricultural Credit Society, which contested an assessment order rejecting its claim for deduction under Section 80P of the Income Tax Act. The assessment order was issued on 31.05.2021, and the bank argued that the assessing officer failed to consider a relevant Supreme Court judgment (Mavilayi Service Cooperative Bank and Others v. Commissioner of Income Tax, Calicut and Others) which was delivered shortly before the assessment order. The bank's appeal against the assessment order was pending before the 3rd respondent, the Income Tax Officer, Ward 2(1), Thrissur, at the time of the writ petition.

• Counselvise Citation: [2021] 140 COUNSELVISE.COM (IT) 751710 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 13-10-2021
• Assessment Year: misc
• Other Referred Cases: Mavilayi Service Cooperative Bank and Others v. Commissioner of Income Tax, Calicut and Others [2021 (1) KLT 485]
• Laws Referred To: Co-operative Societies Act, 1969, Section 80P
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: P C SASIDHARAN
• Keywords: Appeal; Assessment Order; Deduction; Income Tax; Primary Agricultural Credit Society
• Section: 80P

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS WEDNESDAY, THE 13TH DAY OF OCTOBER 2021 / 21ST ASWINA, 1943 WP(C) NO. 22073 OF 2021 PETITIONER : KARAMUCK SERVICE CO-OPERATIVE BANK LTD NO.16, KARAMUCK, KANDASSANKADAVU, THRISSUR – 680 613, REPRESENTED BY ITS SECRETARY BY ADV P.C.SASIDHARAN RESPONDENTS : 1. THE COMMISSIONER OF INCOME TAX (APPEALS), NATIONAL FACELESS APPEAL CENTRE, DELHI – 110 001 2. THE PRINCIPAL COMMISSIONER OF INCOME TAX, O/O.THE PRINCIPAL COMMISSIONER OF INCOME TAX, AYAKAR BHAVAN, MANANCHIRA, KOZHIKODE, KERALA – 673 001 3. THE INCOME TAX OFFICER, WARD 2(1), THRISSUR, OFFICE OF THE INCOME TAX OFFICER, AAYAKAR BHAVAN, SAKTHANTHAMPURAN NAGAR, THRISSUR – 680 01 BY ADV.SRI.JOSE JOSEPH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 22073 OF 2021 2 BECHU KURIAN THOMAS, J. =-=-=-=-=-=-=-=-=-=-=-=-=-= W.P.(C) No.22073 of 2021 =-=-=-=-=-=-=-=-=-=-=-=-=-= Dated this the 13th day of October, 2021 JUDGMENT Petitioner is a Primary Agricultural Credit Society registered under the Co-operative Societies Act, 1969. Ext.P1 order of assessment was issued against the petitioner on 31.05.2021. In the assessment order, petitioner's claim for deduction under Section 80P was rejected on the ground that there was no evidence to show that petitioner satisfied the ingredients of the Primary Agricultural Credit Society as contemplated under the Co-operative Societies Act. 2. While assailing the assessment order before the 3rd respondent, petitioner has sought to canvass that the judgment of the Supreme Court in Mavilayi Service Cooperative Bank and Others v. Commissioner of Income Tax, Calicut and Others [2021 (1) KLT 485] was not considered by the assessing officer though the assessment order was rendered subsequent to the Supreme Court Judgment. 3. Since the petitioner has already preferred an appeal as Ext.P4 and the same is pending consideration before the 3rd WP(C) NO. 22073 OF 2021 3 respondent, I deem it fit that this writ petition be disposed of directing the Appellate Authority to consider the appeal in a time bound manner. 4. Accordingly, there will be a direction to the 3rd respondent to consider and pass appropriate orders on Ext.P4, as expeditiously as possible. 5. Till the disposal of the appeal, no coercive steps shall be initiated pursuant to Ext.P1 assessment order. The writ petition is disposed of as above. Sd/- BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 22073 OF 2021 4 APPENDIX PETITIONER'S EXHIBITS : P1 : COPY OF THE ASSESSMENT ORDER DATED 31.05.2021 P2: COPY OF THE DEMAND NOTICE DATED 31.05.2021 P3 : COPY OF THE STAY PETITION DATED 12.07.2021. P4 : COPY OF THE APPEAL DATED 26.08.2021. P5 : COPY OF THE ACKNOWLEDGEMENT OF RECEIPT OF FORM SHOWING THE DATE OF FILING AS 26.08.2021. P6 : COPY OF THE ORDER ISSUED BY THE 3RD RESPONDENT DATED 04.10.2021. P7 : COPY OF THE STAY PETITION DATED 09.10.2021. P8 : COPY OF THE JUDGMENT IN W.A.NO.1536 OF 2019 DATED 01.07.2019. P9 : COPY OF THE JUDGMENT IN W.P.(C) NO.14282/2021 DATED 19.07.2021 "