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

WP(C)/35283/2019

AI Insights

The case involves the Koratty Service Co-operative Bank Limited, which challenged the assessment orders issued by the Income Tax Officer under the Income Tax Act. The bank had filed appeals and stay petitions against these orders, which were not considered before the respondents initiated recovery steps. The main legal issue was the disallowance of deduction claimed under Section 80P of the Income Tax Act. The court, referencing similar cases, decided to stay the recovery proceedings and directed the appellate authority to expedite the hearing of the appeals.

• Counselvise Citation: [2019] 140 COUNSELVISE.COM (IT) 763094 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 20-12-2019
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: K S NAIR; HARIMA HARIHARAN; RAJATH NATH
• Keywords: Appeal; Assessment Order; Income Tax; Recovery Steps; Stay Petition
• Section: 80P

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR FRIDAY, THE 20TH DAY OF DECEMBER 2019 / 29TH AGRAHAYANA, 1941 WP(C).No.35283 OF 2019(I) PETITIONER/S: KORATTY SERVICE CO-OPERATIVE BANK LIMITED, KORATTY, THRISSUR-680308, REPRESENTED BY ITS SECRETARY SRI. SANIL KUMAR N.G. BY ADVS. SRI.K.S.HARIHARAN NAIR SMT.HARIMA HARIHARAN SHRI.RAJATH R NATH RESPONDENT/S: 1 THE INCOME TAX OFFICER WARD 2(2), AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSUR, PIN-680001. 2 THE COMMISSIONER OF INCOME TAX (APPEALS), AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSUR, PIN-680001. OTHER PRESENT: SC JOSE JOSEPH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20.12.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No.35283/19 2 JUDGMENT Against Exts.P1 and P1(a) assessment orders under the Income Tax Act, the petitioner has preferred Exts.P2 and P2(a) appeals together with Exts.P3 and P3(a) stay petitions before the 2nd respondent. It is the submission of the petitioner that even prior to considering the stay petitions, recovery steps are taken by the respondents against the petitioner for recovery of the amounts confirmed by Exts.P1 and P1(a) assessment orders. It is stated by the learned counsel for the petitioner that the issue involved in the appeal pertains to dis-allowance of deduction claimed under Section 80P of the Income Tax Act. 2. I have heard the learned counsel for the petitioner and the learned Standing Counsel for the Income Tax Department. On a consideration of the facts and circumstances of the case as also the submissions made across the Bar, and taking note of the fact that in similar cases, this Court has directed the Appellate Authority to consider and pass orders in the appeal and stayed the recovery of disputed amounts pending disposal of the appeal, this Writ Petition is disposed directing the 2nd respondent to consider and pass orders on Exts.P2 and P2(a) appeals within an outer time limit of six months from the date of receipt of a copy of this judgment, after hearing the petitioner. Recovery steps for recovery of the amounts confirmed against the petitioner shall be kept in abeyance till such W.P.(C).No.35283/19 3 time as orders are passed by the 2nd respondent as directed above and communicated to the petitioner. The petitioner shall produce a copy of the writ petition together with a copy of this judgment before the 2nd respondent for further action. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE okb //True copy// P.S. to Judge W.P.(C).No.35283/19 4 APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 COPY OF ASSESSMENT ORDER DATED 07.11.2019 ISSUED BY THE 1ST RESPONDENT FOR THE ASSESSMENT YEAR 2012-13. EXHIBIT P1 A COPY OF ASSESSMENT ORDER DATED 07.11.2019 ISSUED BY THE 1ST RESPONDENT FOR THE ASSESSMENT YEAR 2017-18. EXHIBIT P2 COPY OF APPEAL MEMORANDUM DATED 19.12.2019 AGAINST EXT.P1. EXHIBIT P2 A COPY OF APPEAL MEMORANDUM DATED 19.12.2019 AGAINST EXT.P1(A) EXHIBIT P3 COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 19.12.2019 IN EXT.P1 APPEAL. EXHIBIT P3 A COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 19.12.2019 IN EXT.P1 APPEAL. "