M/S. KULAPPULLY SERVICE CO-OP BANK LTD. V. THE INCOME TAX OFFICER, PALAKKAD

WP(C)/7921/2018

AI Insights

The case involves M/S. Kulappully Service Co-Op Bank Ltd., the petitioner, who challenged the assessment orders and demand notices issued by the Income Tax Officer, Ward - 3, Palakkad, for the assessment years 2013-2014, 2014-2015, and 2015-2016. The petitioner filed appeals and stay petitions against these orders. The core legal issue revolves around the entitlement of the petitioner to exemption from certain tax liabilities, referencing a Division Bench judgment of the Kerala High Court in Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax. The court's decision focused on the procedural aspect of handling the stay application in light of the cited precedent.

• Counselvise Citation: [2018] 140 COUNSELVISE.COM (IT) 764747 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 08-03-2018
• Assessment Year: misc
• Other Referred Cases: Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax (2016 (2) KLT 535)
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: T M SREEDHARAN; VANDANA MENON; DIVYA RAVINDRAN; V P NARAYANAN
• Keywords: Assessment Order; Co-operative Bank; Exemption; Income Tax; Stay Application
• Section: 220(6)

Judgement Text

" IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE THURSDAY, THE 8TH DAY OF MARCH 2018 / 17TH PHALGUNA, 1939 WP(C).No. 7921 of 2018 PETITIONER: M/S. KULAPPULLY SERVICE CO-OP BANK LTD. GOVERNMENT PRESS POST, SHORANUR, PALAKKAD DISTRICT, PIN-679122., REPRESENTED BY ITS SECRETARY, SHRI P.V.RAJAN. BY SRI.T.M.SREEDHARAN (SENIOR ADVOCATE) ADVS.SMT.VANDANA MENON SMT.DIVYA RAVINDRAN SRI.V.P.NARAYANAN RESPONDENT(S): 1. THE INCOME TAX OFFICER, WARD - 3, PALAKKAD. PIN-678001. 2. THE COMMISSIONER OF INCOME TAX(APPEAL) AAYAKAR BHAWAN, SAKTHAN THAMPURAN NAGAR, THRISSUR-680 001. BY SRI.JOSE JOSEPH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08-03-2018,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: PBS WP(C).No. 7921 of 2018 (M) APPENDIX PETITIONER(S)' EXHIBITS EXHIBIT P1 TRUE COPY OF THE CERTIFICATE OF REGISTRATION DATED 18.01.2017 ISSUED BY THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL), PALAKKAD. EXHIBIT P2 TRUE COPY OF ASST. ORDER AND DEMAND NOTICE DATED 28.03.2016. FOR THE ASST. YEAR 2013-2014 PASSED BY THE 1ST RESPONDENT. EXHIBIT P3 TRUE COPY OF ASST.ORDER AND DEMAND NOTICE DATED 21.12.2016 FOR THE ASST. YEAR 2014-2015 PASSED BY THE 1ST RESPONDENT. EXHIBIT P4 TRUE COPY OF ASST. ORDER AND DEMAND NOTICE DATED 29.11.2016 FOR THE ASST. YEAR 2015-2016 PASSED BY THE 1ST RESPONDENT. EXHIBIT P5 TRUE COPY OF THE MEMORANDUM OF APPEAL DATED 23.04.2016 FOR THE ASST. YEAR 2013-2014 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P5(A) TRUE COPY OF THE STAY PETITION DATED 23.04.2016 FOR THE ASST. YEAR 2013-2014 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P6 TRUE COPY OF THE MEMORANDUM OF APPEAL DATED 23.01.2017 FOR THE ASST. YEAR 2014-2015 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P6(A) TRUE COPY OF THE STAY PETITION DATED 23.01.2017 FOR THE ASST. YEAR 2014-2015 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P7 TRUE COPY OF THE MEMORANDUM OF APPEAL DATED 04.01.2018 FOR THE ASST. YEAR 2015-2016 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P7(A) TRUE COPY OF THE STAY PETITION DATED 4.1.2018 FOR THE ASST. YEAR 2015-16 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P8 TRUE COPY OF PETITION FILED U/S.220(6) OF THE ACT DATED 25.04.2016 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT FOR THE ASST. YEAR 2013-2014. EXHIBIT P8(A) TRUE COPY OF PETITION FILED U/S.220(6) OF THE ACT DATED 23.01.2017 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT FOR THE ASST. YEAR 2014-15. PBS WP(C).No. 7921 of 2018 (M) EXHIBIT P8(B) TRUE COPY OF PETITION FILED U/S. 220(6) OF THE ACT DATED 04.01.2018 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT FOR THE ASST. YEAR 2015-2016. RESPONDENT'S EXHIBIT NIL /TRUE COPY/ PA TO JUDGE PBS 13/3/2018 A. MUHAMED MUSTAQUE, J. ......................................... W.P.(C).No.7921 of 2018 .......................................... Dated this the 8th day of March, 2018. JUDGMENT The petitioner as against the assessment order, preferred an appeal. He also filed a stay application. Learned counsel for the petitioner submits that the petitioner is entitled for exemption in the light of a Division Bench judgment of this Court reported in Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax (2016 (2) KLT 535). 2. In the light of the facts and circumstances, there shall be a direction to the 2nd respondent to dispose of the stay application after adverting to the judgment as above within a period of two months. Till the disposal of the stay application, the recovery proceedings shall be kept in abeyance. The writ petition is disposed of as above. Sd/- A. MUHAMED MUSTAQUE, JUDGE. Cl // true copy // P.S to Judge "