AMBALLUR SERVICE CO-OPERATIVE BANK LTD.NO.503 V. THE COMMISSIONER OF INCOME TAX(APPEALS)

WP(C)/14282/2021

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The case involves the Amballur Service Co-operative Bank Ltd., which contested an income tax assessment for the year 2018-2019, claiming it was contrary to a Supreme Court decision. The petitioner filed an appeal and a stay petition with the Commissioner of Income Tax (Appeals), but no decision was made on the stay petition. The petitioner sought relief from the High Court of Kerala, which referenced a similar case and precedent to resolve the matter.

• Counselvise Citation: [2021] 140 COUNSELVISE.COM (IT) 752695 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 19-07-2021
• Assessment Year: misc
• Other Referred Cases: The Mavilayi Service Co-operative Bank Ltd. Vs Commissioner of Income Tax, Calicut
• Laws Referred To: The Mavilayi Service Co-operative Bank Ltd. Vs Commissioner of Income Tax, Calicut
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: P C SASIDHARAN; K S ANIL
• Keywords: Agricultural Credit Society; Assessment; Income Tax; Stay Petition
• Section: 143(3)

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.M.BADAR MONDAY, THE 19TH DAY OF JULY 2021 / 28TH ASHADHA, 1943 WP(C) NO. 14282 OF 2021 PETITIONER: THE AMBALLUR SERVICE CO-OPERATIVE BANK LTD. NO. 503, MANNAMPETTA, P.O. VARAKKARA, ALAGAPPANAGAR, THRISSUR-680 302, REPRESENTED BY ITS SECRETARY. BY ADVS. P.C.SASIDHARAN K.S.ANIL RESPONDENTS: 1 THE COMMISSIONER OF INCOME TAX (APPEALS), NATIONAL FACELESS APPEAL CENTRE, DELHI-110001. 2 THE PRINCIPAL COMMISSIONER OF INCOME TAX, O/O THE PRINCIPAL COMMISSIONER OF INCOME TAX, AYAKAR BHAVAN, MANACHIRA, KOZHIKODE, KERALA-673 001. 3 THE INCOME TAX OPFFICER, WARD 2(1), THRISSUR, OFFICE OF THE INCOME TAX OFFICER, THRISSUR. R1-3 BY SRI.JOSE JOSEPH,STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19.07.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No.14282 OF 2021 2 JUDGMENT Dated this the 19th day of July 2021 The learned Standing Counsel takes notice for all respondents. Heard both sides. 2. The petitioner is a Primary Agricultural Credit Society. The petitioner was assessed for the year 2018-2019. It is the case of the petitioner that the assessment is contrary to the law laid down by the Hon'ble Supreme Court in the matter of The Mavilayi Service Co-operative Bank Ltd. Vs Commissioner of Income Tax, Calicut reported in 2021 (1) KHC 303 (SC). The petitioner prefer an appeal along with the stay petition before the 1st respondent. However, no orders are passed on the stay petition, as it is informed to the petitioner that the request of stay can be considered on payment of 20% of the tax WP(C).No.14282 OF 2021 3 demanded. 3. The learned counsel for the petitioner submitted that the petition be disposed of in terms of judgment of the learned Division Bench of this Court in W.A.No.1536/2019. 4. The learned counsel appearing for the respondents fairly state that the petition can be disposed of in the light of the judgment of the learned Division Bench of this Court in Ext.P8. In this view of the matter, considering the law laid down by this Court while deciding W.A. Nos.1529, 1530, 1535 & 1536 of 2019 on 1st July, 2019, Ext.P8, the petition is disposed of with a direction to the 1st respondent to decide the statutory appeal filed by the petitioner herein at the earliest according to law and till disposal of the appeal, the respondents shall keep in abeyance the recovery and WP(C).No.14282 OF 2021 4 collection of the tax assessed as per the assessment order. Sd/- A.M.BADAR JUDGE SSK/19/07 WP(C).No.14282 OF 2021 5 APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1 TRUE COPY OF THE ASSESSMENT ORDER DATED 18-01-2021. EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE DATED 18-01-2021. EXHIBIT P3 TRUE COPYP OF THE APPEAL DATED 10-02-2021. EXHIBIT P4 TRUE COPY OF THE ACKNOWLEDGMENT OF RECEIPT OF FORM SHOWING THE DATE OF FILING AS 10/02/2021. EXHIBIT P5 TRUE COPY OF THE ORDER DATED 22-06-2021. EXHIBIT P6 TRUE COPY OF THE SAY PETITION DATED 06-07-2021. EXHIBIT P7 TRUE COPY OF THE JUDGMENT DATED 12-03-2020 IN W.P.(C) 7600 OF 2020. EXHIBIT P8 TRUE COPY OF THE JUDGMENT DATED 01-07-2019 IN W.A. 1536 OF 2019. RESPONDENT'S EXHIBITS:NIL SSK //TRUE COPY// PA TO JUDGE "