ITO, Kannur V. The Cheruthazham Service Co-op Bank ltd, Kannur

MA 121/COCH/2021

AI Insights

The case involves a Miscellaneous Petition by the Revenue against an earlier Tribunal order concerning the Cheruthazham Service Co-operative Bank for the assessment year 2009-2010. The Revenue sought to challenge the Tribunal's earlier decision based on a High Court judgment that was later reversed by the Supreme Court. The Tribunal found the Revenue's application to be time-barred and noted that it did not have the authority to extend the filing period. The Tribunal also referenced a recent Supreme Court decision that contradicted the legal basis of the Revenue's application.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115403 (ITAT-COCHIN)
• Duration Of Justice: 3 year(s) 8 month(s) 16 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-06-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 29-09-2019
• Other Referred Cases: Pr.CIT v. Poonjar Service Co-op. Bank Ltd., Mavilayi Service Co-operative Bank Ltd. & Ors. v. CIT, Ariyallur Service Co-op. Bank Ltd. v. ITO
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, AM &Shri Aby T.Varkey, JM MA N o .121/Co ch/2 021: Ass t. Y ear 2 0 09-20 10 ( Ar i sin g o ut o f IT A N o .14 5/Co ch/2 01 3) The Income Tax Officer Ward 1, Kannur. v. The Cheruthazham Service Co- operative Bank Limited Pilathara Kannur – 670 721. [PAN: AAAAT9796M] (Applicant) (Respondent) Applicant by: Smt.J.M.Jamuna Devi, Sr.AR Respondent by: None Date of Hearing : 19.05.2023 Date of Pronouncement : 16.06.2023 O R D E R Per Sanjay Arora, AM: This is a Miscellaneous Petition by the Revenue directed against the Order under section 254(1) of the Income-tax Act, 1961 (‘the Act’ hereinafter) dated 14.3.2017 by the Tribunal in the assessee’s case for assessment year 2009-2010. 2.1 The miscellaneous application (MA), presented on 30.9.2019, was, upon asking by the Bench, explained by Smt.Devi, the ld.Sr.DR, to be in time when reckoned w.r.t. the date of the judgment by the Hon'ble jurisdictional High Court in Pr.CIT v. Poonjar Service Co-op. Bank Ltd. (ITA No.97/2016, dated 19.3.2019), reported at [2019] 414 ITR 67 (Ker)(FB). The same is, in our view, out of time inasmuch as it is to be moved within the period of six months from the end of the month in which the order sought to be amended stands passed [s.254(1)], i.e., 30.9.2017 in the instant case. The said decision by the Hon'ble Court may have provided the reason/s or the cause for action to the Revenue, which has nevertheless MA No.121/Coch/2021 (AY 2009-2010) ITO v. The Cheruthazham Service Co-op. Bank Ltd. 2 to be preferred within the time provided by the statute. Further still, the Tribunal has no power to condone the said delay. 2.2 Without prejudice, the said decision of the Hon'ble jurisdictional High Court stands since reversed by the Hon'ble Apex Court in Mavilayi Service Co-operative Bank Ltd. & Ors. v. CIT[2021] 431 ITR 1 (SC), which is being regularly followed by the Tribunal, as in Ariyallur Service Co-op. Bank Ltd. v. ITO (ITA Nos.882 & 883/Coch/2022, dated 17.4.2023). 3. In view of the foregoing, we find no merit in the instant MA; being, rather, not maintainable in law. 4. In the result, the Revenue’s instant miscellaneous application is dismissed. Order pronounced on June 16, 2023 under Rule 34 of The Income Tax (Appellate Tribunal) Rules, 1963 Sd/- (Aby T.Varkey) Sd/- (Sanjay Arora) Judicial Member Accountant Member Cochin; Dated: June 16, 2023 Devadas G* Copy to: 1. The Applicant. 2. The Respondent. 3. The CIT(Appeals), Kozhikode 4. The Pr. CIT, Kozhikode. 5. The Sr. DR, ITAT, Cochin. 6. Guard File. Asst.Registrar ITAT, Cochin