M/S. MUGU SERVICE CO-OPERATIVE BANK LTD. V. THE INCOME TAX OFFICER

WP(C)/5281/2015

AI Insights

M/s. Mugu Service Co-operative Bank Ltd. filed a writ petition challenging the assessment order passed by the Income Tax Officer, which was upheld by the Commissioner of Income Tax (Appeals). The bank then appealed to the Income Tax Appellate Tribunal and simultaneously filed a stay petition. The primary concern of the petitioner was the notice for recovery issued by the Income Tax Officer, which prompted the request for a stay on recovery actions until the appeal was heard. The court considered the submissions and decided to direct the Tribunal to expedite the hearing of the appeal and stay the recovery actions in the meantime.

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 755670 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 19-02-2015
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: T M SREEDHARAN; V P NARAYANAN; DIVYA RAVINDRAN
• Keywords: Appeal; 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 19TH DAY OF FEBRUARY 2015/30TH MAGHA, 1936 WP(C).No.5281 of 2015 (I) ------------------------------------ PETITIONER: ------------------- M/S.MUGU SERVICE CO-OPERATIVE BANK LTD., MUGU P.O.,PUTHIGE,(VIA) KUMBLA,KASARAGOD-671 321, REPRESENTED BY ITS SECRETARY SHRI.T.SHANKARA BHAT . BY SRI.T.M.SREEDHARAN (SENIOR ADVOCATE.) ADVS.SRI.V.P.NARAYANAN SMT.DIVYA RAVINDRAN RESPONDENTS: ------------------------ 1. THE INCOME TAX OFFICER, WARD-1,KASARAGOD-671 121. 2. THE COMMISSIONER OF INCOME TAX (APPEALS)-II, AYYAKKAR BHAVAN,NORTH BLOCK,MANANCHIRA, KOZHIKODE-673 001. 3. THE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH,IST FLOOR,(BLOCK C-1 & C-II), KENDRIYA BHAV AN,OPP.CSEZ,KAKKANAD, COCHIN-682 037,REPRESENTED BH THE ASSITANT REGISTRAR. BY SRI.JOSE JOSEPH,SC FOR INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19-02-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: pk WP(C).No.5281 of 2015 (I) ------------------------------------ APPENDIX PETITIONER'S EXHIBITS: ------------------------------------ EXHIBIT-P1:TRUE COPY OF THE ASSESSMENT ORDER DATED 20.02.2014 PASSED BY THE FIRST RESPONDENT. EXHIBIT-P2:TRUE COPY APPELLATE ORDER DATED 18.12.2014 IN ITA NO.360/KSD/CIT/CLT/2013-14 PASSED BY THE 2ND RESPONDENT. EXHIBIT-P3:TRUE COPY OF THE MEMORANDUM OF APPEAL DATED 16.1.2015 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT. EXHIBIT-P3(a):TRUE COPY OF THE STAY PETITION AND APPENDIX THERETO DATED 16.1.2015 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT. EXHIBIT-P4:TRUE COPY OF HEARING NOTICE DATED 28.1.2015 ISSUED BY THE THIRD RESPONDENT. EXHIBIT-P5:TRUE COPY OF SHOW CAUSE NOTICE NO.AACAM7915R/WARD- 1/KSD/14-15 DATED 9.1.2015 ISSUED BY THE FIRST RESPONDENT. RESPONDENT'S EXHIBITS: NIL --------------------------------------- //TRUE COPY// P.S. TO JUDGE pk A.K.JAYASANKARAN NAMBIAR, J. ------------------------------- W.P.(C).NO.5281 OF 2015 (I) ----------------------------------- Dated this the 19th day of February, 2015 J U D G M E N T Against Ext.P1 assessment order under the Income Tax Act, the petitioner has preferred an appeal before the First Appellate authority. The said appeal was dismissed by Ext.P2 order. Aggrieved by Ext.P2 order, the petitioner preferred Ext.P3 appeal and Ext.P3(a) stay petition before the 3rd respondent. The apprehension of the petitioner is on Ext.P5 notice which has been served on him. It is the submission of the petitioner that the appeal itself has been posted for hearing on 22.4.2015, and, hence, it is prayed that recovery steps be kept in abeyance till such time as the appeal itself has been heard and disposed on merits. 2. I have heard Smt.Divya Ravindran, the learned counsel appearing for the petitioner as also Sri.Jose Joseph, 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 W.P.(C).No.5281/2015 2 with a direction to the 3rd respondent Tribunal to consider and pass orders on Ext.P3 appeal, which is stated to be posted for hearing on 22.4.2015, within a period of three months from the date of receipt of a copy of this judgment. Coercive steps for recovery of amounts confirmed against the petitioner pursuant to Ext.P2 order, including steps pursuant to Ext.P5 notice, shall be kept in abeyance till such time as the 3rd respondent passes orders as directed, and communicates the same to the petitioner. A.K.JAYASANKARAN NAMBIAR JUDGE prp "