Court In Mavilayi Service Cooperative Bank Ltd v. Commissioner Of Income Tax; 2021 (1) Klt 485 Nowgoverns The Field Thereby Rendering The Assessment Itself Asincorrect

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE T.R.RAVI WEDNESDAY, THE 12 DAY OF APRIL 2023 / 22ND CHAITHRA, 1945WP(C) NO. 13078 OF 2023 PETITIONER: THOTTIPPAL SERVICE CO-OPERATIVE BANK LIMITEDTHOTTIPPAL, THRISSUR, PIN – 680 310REPRESENTED BY ITS SECRETARY SRI. SHAIJU BY ADVS.K.S.HARIHARAN NAIRRAJATH R NATHHARIMA HARIHARANDHEERAJ SASIDHARANG.REMADEVIMOHANA KUMAR B. RESPONDENTS: 1THE INCOME TAX OFFICERWARD 2(5), AAYAKAR BHAVAN, SAKTHAN THAMPURAN NAGAR, THRISSUR, PIN – 680 001 2ASSESSMENT UNITNEAC, MAYUR BHAWAN, CONNAUGHT LANE, NEW DELHI, PIN – 110 001 3COMMISSIONER OF INCOME TAX (APPEALS)NATIONAL FACELESS APPEAL CENTRE, C-BLOCK, 4TH FLOOR, S.P.M CIVIC CENTRE, NEW DELHI, PIN – 110 001 SRI. JOSE JOSEPH. SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: T.R.RAVI, J. ---------------------------------------- WP (C) No.13078 of 2023 ------------------------------------------- Dated this the 12[th] day of April, 2023 JUDGMENT Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Cooperative Societies Act, 1969. Ext.P1 order of assessment was issued against the petitioner. In the assessment order, petitioner's claim for deductionunder Section 80P was rejected on the ground that there wasno evidence to show that the petitioner satisfied theingredients of the Primary Agricultural Credit Society ascontemplated under the Kerala Co-operative Societies Act. 2. While assailing the assessment order before the 2ndrespondent, petitioner relied on the judgment of the Supreme Court in Mavilayi Service Cooperative Bank Ltd. v. Commissioner of Income Tax; 2021 (1) KLT 485 nowgoverns the field thereby rendering the assessment itself asincorrect. 3. Since the petitioner has already preferred an appealas Ext.P2 and Ext.P3 stay petition and the same is pendingconsideration before the 3[rd]respondent, I deem it fit that thiswrit petition be disposed of directing the 3[rd] respondent toconsider the Ext.P2 appeal and Ext.P3 stay petition in a timebound manner. 4. Accordingly, there will be a direction to the 3rdrespondent to consider and pass appropriate orders onExts.P2 and P3 as expeditiously as possible within a period of2 months from the date of receipt of a copy of this judgment. 5. Till the disposal of the appeal, no coercive steps shallbe initiated against the petitioner pursuant to Ext.P1. Sd/- T.R.RAVIJUDGE APPENDIX OF WP(C) 13078/2023 PETITIONER'S EXHIBITS Exhibit P1COPY OF ASSESSMENT ORDER DATED 26-09-2022 ISSUED BY THE 2ND RESPONDENT FOR THE ASSESSMENT YEAR 2020-21 Exhibit P2COPY OF APPEAL MEMORANDUM FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT DATED 15-10-2022 AGAINST EXT.P1. Exhibit P3COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT DATED 15-10-2022 IN EXT. P2 APPEAL RESPONDENT'S EXHIBITS : NIL //TRUE COPY// PA TO JUDGE