THE VELLATTANJUR SERVICE CO-OPERATIVE BANK LTD. NP. 3906, V. THE COMMISSIONER OF INCOME TAX (APPEALS)

WP(C)/27873/2021

AI Insights

The case involves The Vellattanjur Service Co-operative Bank Ltd., which is contesting an assessment order that denied them a deduction under Section 80P of the Income Tax Act, claiming they did not meet the criteria of a Primary Agricultural Credit Society as required under the Co-operative Societies Act. The petitioner argued that the assessing officer failed to consider a relevant Supreme Court judgment in Mavilayi Service Co-operative Bank and Others v. Commissioner of Income Tax, Calicut and Others, which was delivered shortly before the assessment order. The appeal against the assessment order is currently pending before the Appellate Authority.

• Counselvise Citation: [2021] 140 COUNSELVISE.COM (IT) 686630 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 07-12-2021
• Assessment Year: misc
• Other Referred Cases: Mavilayi Service Co-operative Bank and Others v. Commissioner of Income Tax, Calicut and Others [2021 (1) KLT 485]
• Laws Referred To: Co-operative Societies Act, 1969, Section 80P
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: P C SASIDHARAN
• Keywords: Appeal; Assessment Order; Coercive Steps; Deduction; Income Tax; Primary Agricultural Credit Society
• Section: 80P

Judgement Text

"WP(C) NO. 27873 OF 2021 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS TUESDAY, THE 7TH DAY OF DECEMBER 2021 / 16TH AGRAHAYANA, 1943 WP(C) NO. 27873 OF 2021 PETITIONER/S: THE VELLATTANJUR SERVICE CO-OPERATIVE BANK LTD. NP. 3906, VELLATTANJOOR P.O., THRISSUR - 680 601, REPRESENTED BY ITS SECRETARY. BY ADV P.C.SASIDHARAN RESPONDENT/S: 1 THE COMMISSIONER OF INCOME TAX (APPEALS) NATIONAL FACELESS APPEAL CENTRE, DELHI - 110 001. 2 THE PRINCIPAL COMMISSIONER OF INCOME TAX O/O. THE PRINCIPAL COMMISSIONER OF INCOME TAX, AYAKAR BHAVAN, MANANCHIRA, KOZHIKODE, KERALA - 673 001. 3 THE INCOME TAX OFFICER WARD 1 & TPS,CITY PLAZA, INCOME TAX OFFICE, WEST NADA,GURUVAYOOR, KERALA - 680 101. OTHER PRESENT: ADV.JOSE JOSEPH-SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.12.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 27873 OF 2021 2 BECHU KURIAN THOMAS, J. =-=-=-=-=-=-=-=-=-=-=-=-=-= W.P.(C).No.27873 of 2021 =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Dated this the 7th day of December, 2021 JUDGMENT Petitioner is a Primary Agricultural Credit Society registered under the Co-operative Societies Act, 1969. Ext.P1 order of assessment was issued against the petitioner on 31.08.2021. In the assessment order, petitioner's claim for deduction under Section 80P was rejected on the ground that there was no evidence to show that petitioner satisfied the ingredients of the Primary Agricultural Credit Society as contemplated under the Co-operative Societies Act. 2. While assailing the assessment order before the 1st respondent Appellate Authority, petitioner has sought to canvass that the judgment of the Supreme Court in Mavilayi Service Co-operative Bank and Others v. Commissioner of Income Tax, Calicut and Others [2021 (1) KLT 485] was not considered by the assessing officer though the assessment order was rendered subsequent to the Supreme Court judgment. 3. Since the petitioner has already preferred an appeal as Ext.P3 and the same is pending consideration before the 1st respondent, I deem it fit that this writ petition be disposed of directing the Appellate Authority to consider the appeal in a time bound WP(C) NO. 27873 OF 2021 3 manner. 4. Accordingly there will a direction to the 1st respondent to consider and pass appropriate orders on Ext.P3 as expeditiously as possible. 5. Till such time, no coercive steps shall be initiated against the petitioner, pursuant to Ext.P1 assessment order. The writ petition is disposed of as above. sd/ BECHU KURIAN THOMAS, JUDGE jm/ WP(C) NO. 27873 OF 2021 4 APPENDIX OF WP(C) 27873/2021 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ASSESSMENT ORDER DATED 31/08/2021 ISSUED BY THE 1ST RESPONDENT. Exhibit P2 TRUE COPY OF DEMAND NOTICE DATED 31/08/2021. Exhibit P3 TRUE COPY OF THE APPEAL DATED 30/09/2021. Exhibit P4 TRUE COPY OF THE ACKNOWLEDGMENT OF RECEIPT OF FORM EVIDENCING OF ILING APPEAL DATED 30/09/2021. Exhibit P5 TRUE COPY OF THE STAY PETITION DATED 15/10/2021. Exhibit P6 TRUE COPY OF THE ORDER ISSUED BY THE 3RD RESPONDENT DATED 16/11/2021. Exhibit P7 TRUE COPY OF STAY PETITION FILED BY THE PETITIONER DATED 26/11/2021 BEFORE THE 2ND RESPONDENT. Exhibit P8 TRUE COPYOF THE JUDGMENT IN WP(C) NO.25647/2021 DATED 18/11/2021. "