M/S THE PANNIYANKARA SERVICE CO-OPERATIVE BANK KALLAI, KOZHIKODE V. JOINT COMMISSIONER OF INCOME TAX RANGE-1, KOZHIKODE

WP(C)/2963/2023

AI Insights

The case involves M/s The Panniyankara Service Co-operative Bank, which is a primary agricultural credit society registered under the Kerala Cooperative Societies Act, 1969. The petitioner challenged an assessment order issued by the income tax authorities, which rejected their claim for deduction under Section 80P of the Income Tax Act, citing non-compliance with the requirements stipulated under the Kerala Cooperative Societies Act. The petitioner had already filed an appeal against the assessment order, which was pending before the Income Tax Appellate Tribunal. The High Court, referencing a Supreme Court judgment, directed the income tax authorities to expedite the consideration of the appeal and refrain from taking any coercive actions until the appeal is resolved.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 749684 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 30-01-2023
• Assessment Year: misc
• Other Referred Cases: Mavilayi Service Cooperative Bank Ltd. v. Commissioner of Income Tax; 2021 (1) KLT 485
• Laws Referred To: Kerala Cooperative Societies Act, 1969, Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: S RAJ; ARJUN RAJ; C T SUJA
• Keywords: Appeal; Assessment Order; Cooperative Bank; Deduction; Income Tax
• Section: 80P; 271D; 269SS

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE T.R.RAVI MONDAY, THE 30TH DAY OF JANUARY 2023 / 10TH MAGHA, 1944 WP(C) NO. 2963 OF 2023 PETITIONER: M/S THE PANNIYANKARA SERVICE CO-OPERATIVE BANK KALLAI, KOZHIKODE,PIN – 673 003 REPRESENTED BY ITS SECRETARY P. MAHESH CHANDRA, BY ADVS. S.ARUN RAJ ARJUN S.RAJ C.T.SUJA RESPONDENTS: 1 JOINT COMMISSIONER OF INCOME TAX RANGE-1, KOZHIKODE, AAYAKAR BHAVAN, KOZHIKODE, PIN – 673 001 2 THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, CENTRAL REVENUE BUILDING, KAKKANAD, ERNAKULAM, PIN – 682 030 3 INCOME TAX OFFICER WARD (13), AAYAKAR BHAVAN, MANANCHIRA, KOZHIKODE, PIN – 673 001 BY ADV JOSE JOSEPH, SC, INCOME TAX DEPARTMENT, KERALA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP ( C ) No . 2 9 6 3 o f 2 0 2 2 2 T . R. RA V I , J . - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - WP ( C ) No . 2 9 6 3 o f 2 0 2 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Da t e d t h i s t h e 3 0 t h d a y o f J a n u a r y , 2 0 2 3 J UDGME NT P e t i t i o n e r i s a P r i ma r y A g r i c u l t u r a l C r e d i t S o c i e t y r e g i s t e r e d u n d e r t h e K e r a l a C o o p e r a t i v e S o c i e t i e s A c t , 1 9 6 9 . E x t . P 1 o r d e r o f a s s e s s me n t wa s i s s u e d a g a i n s t t h e p e t i t i o n e r . I n t h e a s s e s s me n t o r d e r , p e t i t i o n e r ' s c l a i m f o r d e d u c t i o n u n d e r S e c t i o n 8 0 P wa s r e j e c t e d o n t h e g r o u n d t h a t t h e r e wa s n o e v i d e n c e t o s h o w t h a t p e t i t i o n e r s a t i s fi e d t h e i n g r e d i e n t s o f t h e P r i ma r y A g r i c u l t u r a l C r e d i t S o c i e t y a s c o n t e mp l a t e d u n d e r t h e K e r a l a C o - o p e r a t i v e S o c i e t i e s A c t . 2 . Wh i l e a s s a i l i n g t h e a s s e s s me n t o r d e r b e f o r e t h e 2 n d r e s p o n d e n t , p e t i t i o n e r r e l i e d o n t h e j u d g me n t o f t h e S u p r e me C o u r t i n Ma v i l a y i S e r v i c e C o o p e r a t i v e B a n k L t d . v . C o mmi s s i o n e r o f I n c o me T a x ; 2 0 2 1 ( 1 ) KL T 4 8 5 t o s u b mi t t h a t t h e a s s e s s me n t i t s e l f i s i n c o r r e c t . 3 . S i n c e t h e p e t i t i o n e r h a s a l r e a d y p r e f e r r e d a n a p p e a l a s E x t . P 3 a n d t h e s a me i s p e n d i n g c o n s i d e r a t i o n b e f o r e t h e WP ( C ) No . 2 9 6 3 o f 2 0 2 2 3 1 s t r e s p o n d e n t , I d e e m i t fi t t h a t t h i s wr i t p e t i t i o n b e d i s p o s e d o f d i r e c t i n g t h e 1 s t r e s p o n d e n t t o c o n s i d e r t h e a p p e a l i n a t i me b o u n d ma n n e r . 4 . A c c o r d i n g l y , t h e r e wi l l b e a d i r e c t i o n t o t h e 1 s t r e s p o n d e n t t o c o n s i d e r a n d p a s s a p p r o p r i a t e o r d e r s o n E x t . P 3 , a s e x p e d i t i o u s l y a s p o s s i b l e wi t h i n a p e r i o d o f 2 mo n t h s f r o m t h e d a t e o f r e c e i p t o f a c o p y o f t h i s j u d g me n t . 5 . T i l l t h e d i s p o s a l o f t h e a p p e a l , n o c o e r c i v e s t e p s s h a l l b e i n i t i a t e d a g a i n s t t h e p e t i t i o n e r p u r s u a n t t o E x t . P 1 . S d / - T . R. RA V I s n J UDGE WP ( C ) No . 2 9 6 3 o f 2 0 2 2 4 APPENDIX OF WP(C) 2963/2023 PETITIONER'S EXHIBITS Exhibit P1 A TRUE COPY OF THE ORDER DATED 27-7-2018 PASSED UNDER SECTION 271D R.W.S 269SS OF THE ACT BY THE FIRST RESPONDENT Exhibit P2 A TRUE COPY OF THE ORDER DATED 24-8-2022 PASSED BY THE CIT (APPEALS), NATIONAL FACELESS APPEAL CENTRE, DELHI FOR THE AY 2015-16 Exhibit P3 A TRUE COPY OF THE APPEAL FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT FOR THE AY 2015-16 Exhibit P4 A TRUE COPY OF THE STAY APPLICATION FILED BY THE PETITIONER IN EXHIBIT P-3 APPEAL BEFORE THE 2ND RESPONDENT FOR THE AY 2015-16 Exhibit P5 A TRUE COPY OF THE NOTICE DATED 16-1-2023 ISSUED BY THE 3RD RESPONDENT RESPONDENT'S EXHIBITS : NIL //TRUE COPY// PA TO JUDGE "