M/S MUTHOOT FINCORP LTD. V. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 1(1)

WP(C)/5985/2014

AI Insights

M/S. Muthoot Fincorp Ltd., represented by its director, Shri Thomas George Muthoot, filed a writ petition challenging the coercive steps taken by the Income Tax authorities, including a show cause notice (Ext.P6), during the pendency of their appeals against the assessment orders for the years 2006-07 and 2007-08. The petitioner had previously appealed the assessment orders to the Commissioner of Income Tax (Appeals), which were unsuccessful, leading them to file second appeals with the Income Tax Appellate Tribunal. The main grievance was the continuation of coercive measures while the appeals were pending. The court's decision focused on ensuring that the petitioner's applications for stay were addressed promptly by the Tribunal to prevent any undue hardship.

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 699544 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 03-03-2014
• Assessment Year: misc
• 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; Coercive Steps; Income Tax; Stay Petition

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON MONDAY , THE 3RD DAY OF MARCH 2014/12TH PHALGUNA, 1935 WP(C).No. 5985 of 2014 (W) --------------------------- PETITIONER(S): ------------------------ M/S. MUTHOOT FINCORP LTD., T C NO 14/2074-7, MUTHOOT CENTRE, PUNNEN ROAD, JACOBS JUNCTION, THIRUVANANTHAPURAM-695 001, REPRESENTED BY ITS DIRECTOR, SHRI.THOMAS GEORGE MUTHOOT. BY SRI.T.M.SREEDHARAN,SENIOR ADVOCATE ADVS.SRI.V.P .NARAYANAN SMT.DIVYA RAVINDRAN RESPONDENT(S): -------------------------- 1. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 1(1), 3RD FLOOR, AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM-695 003. 2. THE COMMISSIONER OF INCOME TAX(APPEALS) AYAKKAR BHAVAN, KAWDIAR, THIRUVANANTHAPURAM-695 003. 3. THE ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, IST FLOOR, (BLOCK C-1 & C-II), KENDRIYA BHAV AN, OPP. CSEZ, KAKKANAD, COCHIN-682 037. R1 TO R3 BY ADV. SRI.JOSE JOSEPH, SC, INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03-03-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WP(C).No. 5985 of 2014 (W) ----------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS: ---------------------------------------- P1:-TRUE COPY OF THE ASSESSENT ORDER DTD 28/3/2013 ALONG WITH DEMAND NOTICE FOR THE ASSESSMENT YEAR 2006-07 PASSED BY THE IST RESPONDENT. P2:-TRUE COPY OF THE ASSESSMENT ORDER DTD 26/3/2013 ALONG WITH DEMAND NOTICE FOR THE ASSESSMENT YEAR 2006-07 PASSED BY THE IST RESPONDENT. P3:-TRUE COPY OF ORDER DTD 15/1/2014 IN ITA NO 55/TVM/CIT(A)TVM 13-14 FOR THE ASST-YEAR 2006-07 PASSED BY THE 2ND RESPONDENT. P3(A):-TRUE COPY OF ORDER DTD 15/1/2014 IN ITA NO 54/TVM/CIT(A)TVM 13-14 FOR THE ASST-YEAR 2007-08 PASSED BY THE 2ND RESPONDENT. P4:-TRUE COPY OF THE MEMORANDUM OF APPEAL FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE YEAR 2006-07. P4(A):-TRUE COPY OF THE MEMORANDUM OF APPEAL FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE YEAR 2007-08. P5:-TRUE COPY OF THE STAY PETITION DTD 22/2/2012 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE ASST YEAR-2006-07. P5(A):-TRUE COPY OF THE STA Y PETITION DTD 22/2/2012 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FO THE ASST.YEAR 2007-08. P6:-TRUE COPY OF THE SHOW CAUSE NOTICE DTD 21/2/2014 ISSUED BY THE IST RESPONDENT. RESPONDENT(S)' EXHIBITS: ------------------------------------------ N I L /TRUE COPY/ P.S.TO JUDGE Kss P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C)No.5985 OF 2014 ......................................................................... Dated this the 3rd March, 2014 J U D G M E N T Being aggrieved of Exts.P1 and P2 assessment orders passed by the first respondent/Assistant Commissioner of Income Tax for the period 2006-07 & 2007-08, the petitioner has preferred statutory appeals before the second respondent/Commissioner of Income Tax (Appeals), which however did not turn to be fruitful, as borne by Ext.P3 and P3(a) orders. This made the petitioner to approach the third respondent/Income Tax Appellate Tribunal by filing Exts.P4 and P4(a) second appeals along with Ext.P5 and P5(a) petitions for stay. The grievance is only with regard to the coercive steps being pursued in the meanwhile, including by way of Ext.P6, which is sought to be intercepted. 2. Heard the learned Government Pleader as well. 3. After hearing both the sides, the third respondent/ Income Tax Appellate Tribunal is directed to consider and pass appropriate orders on Ext.P5 and P5(a) applications for stay, as expeditiously as possible, at any rate, within a period of six weeks from the date of receipt of a copy of the judgment. It is W.P.(C)No.5985 OF 2014 2 made clear that till such orders are passed in Exts.P5 and P5(a) applications for stay, all coercive steps/proceedings shall be kept in abeyance. The writ petition is disposed of. The petitioner shall produce a copy of the judgment along with a copy of the writ petition before the third respondent/Income Tax Appellate Tribunal for further steps. P.R.RAMACHANDRA MENON JUDGE lk "