THE KOLAZHY SERVIE CO-OPERATIVE BANK LTD. NO.564 V. THE COMMISSIONER OF INCOME TAX (APPEALS)

WP(C)/17685/2020

AI Insights

The case involves the Kolazhy Service Co-operative Bank Ltd., which filed appeals against several assessment orders and demand notices issued under the Income Tax Act. The primary legal issue was the permissibility of deduction under Section 80P of the Income Tax Act as it applies to Co-operative Societies. The petitioner sought a stay on the recovery proceedings while the appeals were being considered. The court, referencing similar cases, decided to stay the recovery proceedings and directed the appellate authority to expedite the decision on the appeals.

• Counselvise Citation: [2020] 140 COUNSELVISE.COM (IT) 691617 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 25-08-2020
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: P C SASIDHARAN
• Keywords: Assessment orders; Co-operative societies; Deduction; Income Tax; Stay Petition
• Section: 80P

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR TUESDAY, THE 25TH DAY OF AUGUST 2020 / 3RD BHADRA, 1942 WP(C).No.17685 OF 2020(I) PETITIONER: THE KOLAZHY SERVIE CO-OPERATIVE BANK LTD. NO.564 KOLAZHY, THRISSUR - 680010, REPRESENTED BY ITS SECRETARY. BY ADV. SRI.P.C.SASIDHARAN RESPONDENTS: 1 THE COMMISSIONER OF INCOME TAX (APPEALS) (APPEALS), AAYAKAR BHAVAN, S.T. NAGAR, THRISSUR - 680001, 2 THE INCOME TAX OFFICER, WARD 2 (2), THRISSUR, OFFICE OF THE INCOME TAX OFFICER, AAYAKAR, BHAVAN, SHAKTHANTHAMPURAN NAGAR, THRISSUR - 680001. BY ADV.SRI.JOSE JOSEPH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.08.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No.17685 OF 2020(I) 2 JUDGMENT Against Exts.P1, P5, P9 and P13 assessment orders under the Income Tax Act, the petitioner has preferred Exts.P3, P7, P11 and P15 appeals together with Exts.P4, P8, P12 and P16 stay petitions before the 1st respondent. Exts.P2, P6, P10 and P14 are the demand notices. It is submitted by counsel for the petitioner that the issue involved in the appeals is the permissibility of deduction under Section 80P of the Income Tax Act in its applicability to Co-operative Societies. It is pointed out that in similar matters this Court has directed the appellate authority to consider and pass orders in the appeal and stayed the recovery proceedings, in the meanwhile. 2. I have heard the learned counsel appearing for the petitioner and also the learned Standing counsel appearing for the Income Tax Department. Taking note of similar orders issued by this Court, I dispose the Writ petition by directing the 1st respondent to consider and pass orders on Exts.P3, P7, P11 and P15 appeals within an outer time limit of six months from the date of receipt of a copy of this judgment, after hearing the petitioner. Recovery steps for recovery of amounts confirmed against the petitioner by the assessment orders, as also further proceedings WP(C).No.17685 OF 2020(I) 3 pursuant to Exts.P2, P6, P10 and P14 demand notices, shall be kept in abeyance till such time as orders are passed by the 1st respondent as directed, and the order communicated to the petitioner. The petitioner shall produce a copy of the writ petition together with a copy of this judgment, before the 1st respondent, for further action. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE mns WP(C).No.17685 OF 2020(I) 4 APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 TRUE COPY OF THE ASSESSMENT ORDER DATED 27.11.2018 ALONG WITH THE COMPUTATION SHEET. EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE DATED 27/11/2018. EXHIBIT P3 TRUE COPY OF THE APPEAL DATED 13.12.2018. EXHIBIT P4 TRUE COPY OF THE STAY PETITION DATED 31.01.2019. EXHIBIT P5 TRUE COPY OF THE ASSESSMENT ORDER DATED 30.11.2018 ALONG WITH COMPUTATION SHEET. EXHIBIT P6 TRUE COPY OF THE DEMAND NOTICE DATED 30.11.2018. EXHIBIT P7 TRUE COPY OF THE APPEAL DATED 13.12.2018. EXHIBIT P8 TRUE COPY OF THE STAY PETITION DATED 31.1.2019 EXHIBIT P9 TRUE COPY OF THE ASSESSMENT ORDER DATED 5.12.2019 ALONG WITH COMPUTATION SHEET. EXHIBIT P10 TRUE COPY OF THE DEMAND NOTICE DATED 5.12.2019. EXHIBIT P11 TRUE COPY OF THE APPEAL DATED 18.12.2019 EXHIBIT P12 TRUE COPY OF THE STAY PETITION DATED 18.12.2019. EXHIBIT P13 TRUE COPY OF THE ASSESSMENT ORDER DATED 5.12.2019 ALONG WITH COMPUTATION SHEET. EXHIBIT P14 TRUE COPY OF THE DEMAND NOTICE DATED 5.12.2019. EXHIBIT P15 TRUE COPY OF THE APPEAL DATED 18.12.2019. EXHIBIT P16 TRUE COPY OF THE STAY PETITION DATED 18.12.2019. EXHIBIT P17 TRUE COPY OF THE JUDGMENT DATED 1.7.2019 IN WA NO.1536 OF 2019. RESPONDENTS EXHIBITS:NIL //TRUE COPY// P.A TO JUDGE "