M/S.PALAKKAD SERVICE CO-OPERATIVE BANK LTD V. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -1

WP(C)/6190/2018

AI Insights

The case involves M/s. Palakkad Service Co-operative Bank Ltd., the petitioner, who challenged the assessment orders for the assessment years 2010-11, 2011-12, and 2012-13 passed by the Assistant Commissioner of Income Tax, the first respondent. The assessments were made under Section 143(3) read with Section 147 of the Income Tax Act. The petitioner appealed against these orders to the Commissioner of Income Tax (Appeals), the fourth respondent, and simultaneously filed stay petitions. The core issue was the realization of the assessed amounts by the respondents before the disposal of the appeals, which the petitioner argued was contrary to a favorable legal precedent. The High Court's decision focused on expediting the appeal process in light of the already realized amounts and the cited legal precedent.

• Counselvise Citation: [2018] 140 COUNSELVISE.COM (IT) 761266 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 12-03-2018
• Assessment Year: misc
• Other Referred Cases: Chirakkal Service Co-operative Bank Ltd. v. CIT
• Laws Referred To: Income Tax Act, Kerala Co-operative Societies Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH; CHRISTOPHER ABRAHAM; M SASINDRAN
• Assessee Lawyers: S RAJ; C SUJA
• Keywords: Appeal; Co-operative Bank; Income tax assessment; Stay Petition; Income Tax Realisation
• Section: 147; 143(3); 131; 133A; 226(3)

Judgement Text

" IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR MONDAY, THE 12TH DAY OF MARCH 2018 / 21ST PHALGUNA, 1939 WP(C).No. 6190 of 2018 PETITIONER(S) M/S.PALAKKAD SERVICE CO-OPERATIVE BANK LTD. NO. F 1200, G. B. ROAD, PALAKKAD-678001, REPRESENTED BY ITS SECRETARY C. RAMESH KUMAR. BY ADVS.SRI.S.ARUN RAJ SMT.C.T.SUJA RESPONDENT(S): 1. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -1, AAYAKAR BHAVAN, ENGLISH CHURCH ROAD, PALAKKAD-678014. 2. JOINT COMMISSIONER OF INCOME TAX, PALAKKAD RANGE, AAYAKAR BHAVAN, ENGLISH CHURCH ROAD, PALAKKAD-678014. 3. THE PRINCIPAL COMMISSIONER OF INCOME TAX, AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSUR-680001. 4. THE COMMISSIONER OF INCOME TAX (APPEALS), AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSUR-680001. 5. THE GENERAL MANAGER, THE PALAKKAD DISTRICT CO-OPERATIVE BANK LTD. NO. P-521, HEAD POST OFFICE ROAD, SULTHANPET, PALAKKAD-678001. R1-R4 BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX R BY SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT R BY SRI.M.SASINDRAN, SC, PALAKKAD DIST.CO.OP.BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12-03-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 6190 of 2018 (W) APPENDIX PETITIONER(S)' EXHIBITS EXHIBIT P1 TRUE COPY OF THE ASSESSMENT ORDER DATED 16.3.2016 PASSED BY THE 1ST RESPONDENT UNDER SECTION 143(3) R.W.S. 147 OF THE ACT FOR THE AY 2010-11. EXHIBIT P1(A) TRUE COPY OF THE ASSESSMENT ORDER DATED 16.3.2016 PASSED BY THE 1ST RESPONDENT UNDER SECTION 143(3) R.W.S. 147 OF THE ACT FOR THE AY 2011-12. EXHIBIT P1(B) TRUE COPY OF THE ASSESSMENT ORDER DATED 16.3.2016 PASSED BY THE 1ST RESPONDENT UNDER SECTION 143(3) R.W.S. 147 OF THE ACT FOR THE AY 2012-13. EXHIBIT P2 TRUE COPY OF THE STATUTORY FIRST APPEAL FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2010-11. EXHIBIT P2(A) TRUE COPY OF THE STATUTORY FIRST APPEAL FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2011-12. EXHIBIT P2(B) TRUE COPY OF THE STATUTORY FIRST APPEAL FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2012-13. EXHIBIT P3 TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2010-11. EXHIBIT P3(A) TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2011-12. EXHIBIT P3(B) TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT FOR THE AY 2012-13. EXHIBIT P4 TRUE COPY OF THE NOTICE DATED 15.11.2017 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. EXHIBIT P5 TRUE COPY OF THE REPLY LETTER DATED 26.11.2017 SUBMITTED TO THE 1ST RESPONDENT BY THE PETITIONER. EXHIBIT P6 TRUE COPY OF THE NOTICE DATED 1.12.2017 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. EXHIBIT P7 TRUE COPY OF THE LETTER DATED 13.12.2017 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT. WP(C).No. 6190 of 2018 (W) :2: EXHIBIT P8 TRUE COPY OF THE SUMMONS DATED 15.02.2018 UNDER SECTION 131 OF THE INCOME TAX ACT ISSUED TO THE PETITIONER BY THE 1ST RESPONDENT. EXHIBIT P9 TRUE COPY OF THE SURVEY PROCEEDING DATED 15.2.2018 U/S. 133A OF THE ACT ISSUED TO THE PETITIONER ALONG WITH ANNEXURE BY THE 1ST RESPONDENT. EXHIBIT P10 TRUE COPY OF THE STATEMENT OF THE CURRENT ACCOUNT (A/C NO.00102030000046) OF THE PETITIONER MAINTAINED IN THE 4TH RESPONDENT BANK FOR THE PERIOD 15-2-2018 TO 16.2.2018. EXHIBIT P11 TRUE COPY OF THE LETTER DATED 16.2.2018 SUBMITTED TO THE 4TH RESPONDENT BANK BY THE PETITIONER. EXHIBIT P12 TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 226 (3) OF THE ACT TO THE 4TH RESPONDENT BANK BY THE 1ST RESPONDENT. RESPONDENT'S EXHIBITS : NIL //TRUE COPY// sd/- P.A. TO JUDGE SKS P.B.SURESH KUMAR, J. =================== W.P.(C) No.6190 of 2018 ------------------------------------------------- Dated this the 12th day of March, 2018 JUDGMENT Petitioner is a Primary Agricultural Credit Co- operative Society registered under the Kerala Co-operative Societies Act and an assessee under the Income Tax Act on the rolls of the first respondent. The assessments of the petitioner for the years 2010-11, 2011-12 and 12-13 have been finalised in terms of provisions contained in Section 143 (3) of the Act as per Ext.P1 series orders. Aggrieved by Ext.P1 series orders, the petitioner preferred Ext.P2 series appeals before the fourth respondent. Ext.P3 series are the stay petitions preferred by the petitioner in Ext.P2 series appeals. The case of the petitioner is that pending disposal W.P.(C) No. 6190/2018 2 of Ext.P2 series appeals, the entire money payable in terms of Ext.P1 series orders have been realised by the respondents from the petitioner. The petitioner specifically alleges that the issue raised by them in the appeals is covered in their favour by the decision of the Division Bench of this Court in Chirakkal Service Co-operative Bank Ltd. v. CIT and other connected cases (2016 [384 ITR 490 (Ker)]). The petitioner, therefore, seeks appropriate directions for expeditious disposal of the appeals preferred against Ext.P1 series orders. 2. Heard the learned counsel for the petitioner as also the learned Standing Counsel for the respondents. In so far as the entire money covered in terms of Ext.P1 series orders has already been realised from the petitioner, having regard to the facts and circumstances of the case, especially the decision of the Division Bench of this Court referred to above, the writ petition is disposed of directing the fourth respondent to pass final orders on Ext.P2 series appeals, within two months from the date of W.P.(C) No. 6190/2018 3 receipt of a copy of this judgment. The contentions of the petitioner are left open. sd/- P.B.SURESH KUMAR JUDGE SKS "