ITO, Kasargode V. The Nileshwar Service Co-op Bank Ltd, Kasargode

MA 127/COCH/2021

AI Insights

The case involves two miscellaneous applications filed by the Revenue against the Orders of the Income Tax Appellate Tribunal dated 14/3/2017 concerning the assessments of Nileshwar Service Co-operative Bank Ltd. for the assessment years 2009-2010 and 2010-2011. The applications were based on a High Court decision which was later reversed by the Supreme Court. The Tribunal found the applications to be out of time and not maintainable, as they were not filed within the six-month period required by section 254(1) of the Income-tax Act, 1961.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115404 (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 .127/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 .135/Co ch/2 01 3) MA N o .128/Co ch/2 021: Ass t. Y ear 2 0 10-20 11 ( Ar i sin g o ut o f IT A N o .72 0/Co ch/2 01 3) The Income Tax Officer Ward 2, Kasargode / Kannur. v. Nileshwar Service Co-operative Bank Ltd., Raja Road Nileshwar Kasargode – 671 314 [PAN: AAAAT3163C] (Applicant) (Respondent) Applicant by: Smt.J.M.Jamuna Devi, Sr.AR Respondent by: Sri.George Thomas, CA Date of Hearing : 19.05.2023 Date of Pronouncement : 16.06.2023 O R D E R Per Sanjay Arora, AM: These are a set of two miscellaneous petitions by the Revenue directed against the Orders under section 254(1) of the Income-tax Act, 1961 (‘the Act’ hereinafter) dated 14/3/2017 by the Tribunal in respect of the assessee’s assessments for assessment years (AYs.) 2009-2010 & 2010-2011. 2.1 The instant applications, presented on 30.9.2019, were 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 MA Nos.127& 128/Coch/2021 (AYs.2009-10& 2010-11) ITO v. The Nileshwar Service Co-op. Bank Ltd. 2 Hon'ble Court may have provided the reason/s or the cause for action to the Revenue, which has nevertheless 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 MAs; being, rather, not maintainable in law. 4. In the result, the Revenue’s instant miscellaneous applications are 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