The Chirayinkeezhu Service Co-operative Bank Ltd. No.1155 V. The Income Tax Officer, Ward-2 (5) and The Registrar, Income Tax Appellate Tribunal Cochin Bench

WP(C)/10742/2024

AI Insights

The case involves the Chirayinkeezhu Service Co-operative Bank Ltd., which challenged the assessment order for the year 2017-18. The bank's appeal to the first Appellate Authority was dismissed, leading to the filing of a second appeal and associated applications for stay and condonation of delay at the Income Tax Appellate Tribunal. The primary relief sought by the petitioner was to stay the recovery of assessed amounts pending the Tribunal's decision on the delay and stay petitions. The High Court's intervention was to ensure a timely decision by the Tribunal on these preliminary applications, thereby halting any recovery proceedings in the meantime.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 795249 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 15-03-2024
• Assessment Year: misc
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: P G JAYASHANKAR
• Assessee Lawyers: ARJUN POOJA PANKAJ
• Keywords: Appeal; Assessment Order; Condonation of delay; Income Tax; Stay Petition

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 15TH DAY OF MARCH 2024 / 25TH PHALGUNA, 1945 WP(C) NO. 10742 OF 2024 PETITIONER/S: THE CHIRAYINKEEZHU SERVICE CO-OPERATIVE BANK LTD. NO.1155 REPRESENTED BY ITS SECRETARY-IN-CHARGE, CHIRAYINKEEZHU P.O, THIRUVANANTHAPURAM DISTRICT., PIN - 695304 BY ADVS. ARJUN RAGHAVAN T.R.HARIKUMAR POOJA PANKAJ RESPONDENT/S: 1 THE INCOME TAX OFFICER, WARD-2 (5) OFFICE OF THE JOINT COMMISSIONER OF INCOME TAX, RANGE-2, AAYAKAR BHAVAN, KOWDIAR P.O, THIRUVANANTHAPURAM DISTRICT, PIN - 695003 2 THE REGISTRAR, INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, KENDRIYA BHAVAN, BLOCK NO.C1 & C2, 1ST FLOOR, KAKKANAD, COCHIN., PIN - 682030 BY ADV ADV. P.G. JAYASHANKAR SRI. P G JAYA SHANKAR (SR SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 10742 OF 2024 2 JUDGMENT Petitioner suffered Ext.P1 order of assessment for the assessment year 2017-18. The appeal filed by the petitioner before the first Appellate Authority was dismissed by Ext.P2 order. The petitioner has now filed Ext.P3 appeal together with Ext.P4 application for stay and Ext.P5 application for condonation of delay before the Income Tax Appellate Tribunal. The only limited relief now sought for by the petitioner is to stay recovery of amounts found payable by the petitioner in terms of Ext.P1 order of assessment as modified/confirmed by Ext.P2 order of the Appellate Authority, pending consideration of the delay petition and stay petition, before the Income Tax Appellate Authority. 2. Heard Sri. P.G. Jaya Shankar, the learned Standing Counsel appearing for the Income Tax Department also. 3. Having heard the learned counsel appearing for the petitioner and the learned Standing Counsel appearing for the Income Tax Department, I am of the view that this writ petition can be disposed of, directing the Income Tax Appellate Tribunal to consider and pass orders on Exts.P4 stay petition and Ext.P5 application for condonation of delay filed in Ext.P3 appeal, within WP(C) NO. 10742 OF 2024 3 a period of three months from the date of receipt of a certified copy of this judgment, after affording an opportunity of hearing to the petitioner. Till such time as orders are passed on Exts. P4 and P5 applications, any proceedings for recovery of the amounts found payable by the petitioner in terms of Ext.P1 assessment order as modified/confirmed by Ext.P2 shall be kept in abeyance. It is made clear that the Income Tax Appellate Tribunal needs to pass orders on merits on Exts.P4 application for stay only if it decides to condone the delay in filing the appeal. Sd/- GOPINATH P. JUDGE ajt WP(C) NO. 10742 OF 2024 4 APPENDIX OF WP(C) 10742/2024 PETITIONER EXHIBITS Exhibit-P1 A TRUE COPY OF THE ASSESSMENT ORDER FOR THE ASSESSMENT YEAR 2017-2018 DATED 19-12-2019 Exhibit P2 A TRUE COPY OF THE ORDER DATED 03-03-2023 ISSUED BY THE FIRST APPELLATE AUTHORITY Exhibit-P3 A TRUE COPY OF THE APPEAL MEMORANDUM FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT TRIBUNAL DATED 22-12-2023 Exhibit-P4 A TRUE COPY OF THE STAY PETITION ALONG WITH AFFIDAVIT FILED IN EXT-P3 APPEAL, DATED 22- 12-2023 Exhibit-P5 A TRUE COPY OF THE AFFIDAVIT AND PETITION FOR CONDONATION OF DELAY DATED 22-12-2023 Exhibit-P6 A TRUE COPY OF THE JUDGMENT DATED 24-02-2020 IN WP(C) NO.5205 OF 2020 Exhibit-P7 A TRUE COPY OF THE JUDGMENT DATED 19-07-2019 IN W.A NO.1639 OF 2019 OF THIS HON'BLE COURT Exhibit-P8 A TRUE COPY OF THE JUDGMENT DATED 11-07-2022 IN WP(C) NO.22397 OF 2022 OF THIS HON'BLE COURT "