Devan Ramachandran, J v. Rp

IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON & THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN WEDNESDAY,THE 28TH DAY OF NOVEMBER 2018 / 7TH AGRAHAYANA, 1940 RP.No. 562 of 2017 IN ITA. 132/2016 AGAINST THE JUDGMENT IN ITA 132/2016 of HIGH COURT OF KERALA DATED24-11-2016 REVIEW PETITIONERS: THE PRINCIPAL COMMISSIONER OF INCOME TAX,1ST FLOOR, AAYAKAR BHAVAN, NEW ANNEX BUILDING,(NORTH BLOCK), NANANCHIRA,KOZHIKODE-673001. BY ADVS. SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPT. SRI.K.M.V.PANDALAI INCOME TAX DEPARTMENT RESPONDENTS: M/S.MATTANNUR RANGE AGRICULTURALIST AND TAPPING WORKER'S CO-OPERATIVE SOCIETY, MATTANNUR.P.O, MATTANNUR,KANNUR DISTRICT-670101.REP.BY ITS SECRETARY,SHRI.SUDHEER KUMAR.A. BY ADVS. SMT.DIVYA RAVINDRAN SRI.T.M.SREEDHARAN (SR.) SRI.V.P.NARAYANAN THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON28.11.2018, ALONG WITH RP.597/2017, THE COURT ON THE SAME DAYPASSED THE FOLLOWING: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON & THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN WEDNESDAY,THE 28TH DAY OF NOVEMBER 2018 / 7TH AGRAHAYANA, 1940 RP.No. 597 of 2017 IN ITA. 131/2016 AGAINST THE JUDGMENT IN ITA 131/2016 of HIGH COURT OF KERALA DATED24-11-2016 REVIEW PETITIONER: THE PRINCIPAL COMMISSIONER OF INCOME TAX1ST FLOOR, AAYAKAR BHAVAN, NEW ANNEX BUILDING (NORTH BLOCK), NANANCHIRA, KOZHIKODE 673 001 BY ADVS. SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPTSRI.K.M.V.PANDALAI INCOME TAX DEPARTMENT RESPONDENTS: M/S.MATTANNUR RANGE AGRICULTURALIST AND TAPPING WORKER'S CO-OPERATIVE SOCITYMATTANNUR P.O, MATTANNUR, KANNUR DISTRICT 670 101REPRESENTED BY ITS SECRETARY, SHRI SUDHEER KUMAR A BY ADVS. SMT.DIVYA RAVINDRAN SRI.T.M.SREEDHARAN (SR.) SRI.V.P.NARAYANAN THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 28.11.2018, ALONG WITH RP.562/2017, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: O R D E R Devan Ramachandran, J. The learned standing counsel for the Income TaxDepartment, who are the petitioners in these two cases,seek review of the judgment, dated 24.11.2016, in ITANos. 131 and 132 of 2016, on the ground that whilefollowing the judgment of a Division Bench of this Courtin Chirakkal Service Co-operative Bank Ltd. Vs. CIT[(2016) 384 ITR 590 (Ker.)], this Court had made amistake because the issue involved in these cases areunder the ambit of Section 80P2(iii) of the I.T. Act,whereas Chirakkal [supra] deals with the exemption to aPrimary Agricultural Credit Co-operative Society underthe provisions of Section 80P(A) of the I.T. Act. Hesays that this factual mistake unfortunately was omittedto be brought to the notice of this Court when thejudgments were delivered. 2. Even though we hear the learned standing counselfor the Income Tax Department as afore, the fact remainsthat even though it appears that the reference toChirakkal [supra] in these judgments was perhaps onaccount of a factual misunderstanding of the inputs involved, the issues relating to the assesses in thesecases has, however, been answered in their favour by asubsequent judgment of a Division Bench in ITA No. 273 of2015. Therefore, except for the fact that a wrongreference to Chirakkal [supra] had been made in thesejudgments, eventually the position is still in favour ofthe assessee, and, therefore, we do not think that areview of our judgment is now warranted. 3. In the afore circumstances, noticing thejudgment in ITA No. 273 of 2015, we close these reviewapplications recording that reference toChirakkal[supra] in these two cases was only on account of a wrongimpression that the issues involved were under the ambitof Section 80P(A) of the Income Tax Act and clarifyingfurther that the issues are under 80P(2) (iii) andcovered by ITA 273 of 2015. Sd/- P.R.RAMACHANDRA MENON JUDGE Sd/- DEVAN RAMACHANDRAN JUDGE kmd