THE KAZHAKUTTOM SERVICE CO-OPERATIVE BANK LTD NO.1457 V. THE INCOME TAX OFFICER

WP(C)/34151/2017

AI Insights

The case involves the Kazhakuttom Service Co-operative Bank Ltd, which challenged an assessment order under the Income Tax Act. The bank had filed an appeal against the assessment order and a stay petition, which were pending before the Commissioner of Income Tax (Appeals). Despite the pending appeal and stay petition, recovery steps were initiated against the bank. The High Court of Kerala intervened to halt these recovery actions until the stay petition could be considered.

• Counselvise Citation: [2017] 140 COUNSELVISE.COM (IT) 699236 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 26-10-2017
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: CHRISTOPHER ABRAHAM
• Assessee Lawyers: V G ARUN; T R HARIKUMAR; JAIBY PAUL; ARJUN RAGHAVAN; ADITHYA RAJEEV
• Keywords: Assessment Order; Income Tax; Recovery Steps; Stay Petition
• Section: 143(3)

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR THURSDAY, THE 26TH DAY OF OCTOBER 2017/4TH KARTHIKA, 1939 WP(C).No. 34151 of 2017 (T) ---------------------------- PETITIONER : ----------------------- THE KAZHAKUTTOM SERVICE CO-OPERATIVE BANK LTD NO.1457, REPRESENTED BY ITS SECRETARY, KAZHAKUTTOM P.O, THIRUVANANTHAPURAM DISTRICT-695 582. BY ADVS.SRI.V.G.ARUN SRI.T.R.HARIKUMAR SRI.JAIBY PAUL SRI.ARJUN RAGHAVAN SRI.ADITHYA RAJEEV RESPONDENT(S): --------------------------- 1. THE INCOME TAX OFFICER, WARD -2 (1), OFFICE OF THE JOINT COMMISSIONER OF INCOME TAX, RANGE-2, AAYAKAR BHAVAN, KOWDIAR P.O, THIRUVANANTHAPURAM-695 003. 2. THE COMMISSIONER OF INCOME TAX (APPEALS), AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM-695 003. R1 & R2 BY SRI.CHRISTOPHER ABRAHAM, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26-10-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C).No. 34151 of 2017 (T) ---------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS -------------------------------------- EXHIBIT P1 A TRUE COPY OF THE CERTIFICATE DATED 2.3.2015 ISSUED BY ADDL. REGISTRAR OF CO-OPERATIVE SOCIETIES (CREDIT), OFFICE OF THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. EXHIBIT P2 A TRUE COPY OF THE ASSESSMENT ORDER FOR THE YEAR 2014-15 DATED 28.12.2016,. EXHIBIT P3 A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 28.12.2016. EXHIBIT P4 A TRUE COPY OF THE APPEAL MEMORANDUM FILED AGAINST EXT.P2 ASSESSMENT ORDER ALONG WITH COVERING LETTER DATED 9.1.2017. EXHIBIT P5 A TRUE COPY OF THE RECTIFICATION ORDER NO.AAAAK462 6R/W-2(1)/TVM/2017 -18 DATED 6.7.2017. EXHIBIT P6 A TRUE COPY OF THE NOTICE NO.AAAAK4626R/ITO/W-2(1)/TVM/2017-18 DATED 14.9.2017 ISSUED BY THE 1ST RESPONDENT. EXHIBIT P7 A TRUE COPY OF THE STAY PETITION DATED 10.10.2017 FILED BY THE PETITIONER IN EXT.P4 APPEAL. RESPONDENT(S)' EXHIBITS: NIL ----------------------------------------- /TRUE COPY/ P.A.TO JUDGE sts A.K.JAYASANKARAN NAMBIAR, J. ................................................................... W.P.(C).No.34151 Of 2017 ..................................................................... Dated this the 26th day of October, 2017 J U D G M E N T Against Ext.P2 assessment order under the Income Tax Act, the petitioner has preferred Ext.P4 appeal, together with Ext.P7 stay petition, before the 2nd respondent. It is the case of the petitioner that, even prior to considering the stay petition, recovery steps are taken by the respondents against the petitioner for recovery of the amounts confirmed by Ext.P2 assessment order. 2. I have heard the learned counsel appearing for the petitioner and also the learned Standing counsel appearing for the respondents. On a consideration of the facts and circumstances of the case as also the submissions made across the Bar, I dispose the writ petition with the following directions: 1. The 2nd respondent shall consider and pass orders on Ext.P7 stay petition within a period of two W.P.(C).No.34151 Of 2017 2 months from the date of receipt of a copy of this judgment, after hearing the petitioner. 2. Recovery steps for recovery of amounts confirmed against petitioner by Ext.P2 assessment order shall be kept in abeyance till orders are passed by the 2nd respondent as directed above and communicated to the petitioner. 3. The petitioner shall produce a copy of this judgement, together with a copy of the writ petition before the 2rd respondent for further action. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE mns/26.10.17 "