By Advs.sri.harisankar v. Menonsmt.meera V.menon

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.M.BADAR MONDAY, THE 08TH DAY OF MARCH 2021 / 17TH PHALGUNA, 1942 WP(C).No.5839 OF 2021(D) PETITIONER: THE KARAKURISSI SERVICE CO-OPERATIVE BANK LTD.KARAKURISSI, PALAKKAD 678 595, REPRESENTED BY ITS SECRETARY, A.JAYASREE BY ADVS.SRI.HARISANKAR V. MENONSMT.MEERA V.MENON RESPONDENTS: 1THE ADDITIONAL/JOINT/DEPUTY/ASST. COMMISSIONER OF INCOME TAX/INCOME TAX OFFICER NATIONAL E-ASSESSMENT CENTRE, DELHI-110 001. 2NATIONAL FACELESS APPEAL CENTREDELHI - 110 001, REPRESENTED BY THE PRINCIPAL CHIEF COMMISSIONER. OTHER PRESENT: SRI. JOSE JOSEPH, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON08.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) No.5839/2021 JUDGMENT Dated this the 8[th] day of March 2021 Heard both sides. 2. Learned counsel for the petitioner submits that the petitioner is a co-operative society carrying on business ofproviding credit facility to its members. The petitioner hasclaimed the benefit under Section 80P(2)(a)(i) of the Income TaxAct, 1961. But the same came to be disallowed by the order atExt.P1. Hence the petitioner has filed appeal along with staypetition before the 2[nd] respondent. However, during the pendencyof the stay petition, steps are being taken to realise the amount sodetermined. 3. Learned Standing Counsel, who takes notice for the Income Tax Department, opposed the writ petition by submittingthat the amount determined needs to be recovered without therebeing any stay to the assessment order at Ext.P1. 4. Having considered the submissions so advanced, in the facts and circumstances of the case, as statutory appeal alongwith stay petition is pending, this writ petition is disposed of withthe following directions: W.P.(C) No.5839/2021 The 2[nd] respondent is directed to decide the stay petitionfiled with the statutory appeal within a period of four months fromthe date of communication of this judgment. The petitioner toco-operate the 2[nd] respondent in expeditious disposal of the staypetition. Till disposal of the stay petition, all coercive action takenfor realising the amount determined by the assessment order atExt.P1 should be kept in abeyance. The petitioner to furnish copyof the judgment to the 2[nd] respondent for necessary action. Sd/- A.M.BADAR JUDGE smp APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1COPY OF ASSESSMENT ORDER ISSUED BY THE 1ST RESPONDENT EXHIBIT P2COPY OF THE S.O.NO.3296(E) ISSUED BY THE MINISTRY OF FINANCE, NEW DELHIEXHIBIT P2 (a)COPY OF THE S.O.NO.3297(E) ISSUED BY THE MINISTRY OF FINANCE, NEW DELHIEXHIBIT P3COPY OF THE APPEAL FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P3 (a)COPY OF STAY PETITION FILED BY THE PETITIONER BEFORE THE ADDITIONAL/JOINT/ASSISTANT COMMISSIONER OF INCOME TAX, COMMISSIONER OF INCOME TAX (APPEALS), NATIONAL FACELESS ASSESSMENT CENTRE, DELHI.EXHIBIT P4COPY OF THE ORDER OF THIS HON'BLE COURT IN WP (C) NO.3078/2021RESPONDENTS' EXHIBITS: NIL. True Copy P.S to Judge