Operative Bank Ltd v. Commissioner Of Income Tax[2021 (1) Klt 485] Now Governs The Field Thereby Renderingthe Assessment Itself As Incorrect

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 28 DAY OF JUNE 2022 / 7TH ASHADHA, 1944 WP(C) NO. 20970 OF 2022 PETITIONER: THE POLPULLY SERVICE CO-OPERATIVE BANK LIMITED, NO.F 1198,POLPULLY, PALAKKAD DISTRICT, PIN-678 622, REPRESENTED BY ITS SECRETARY. POLPULLY, PALAKKAD DISTRICT, PIN-678 622, BY ADV O.D.SIVADAS RESPONDENTS: 1THE COMMISSIONER OF INCOME TAX (APPEALS)AYAKAR BHAVAN, SHAKTAN NAGAR, THRISSUR, PIN - 680 001. 2THE INCOME TAX OFFICER, WARD 2, AAYKAR BHAVAN, ENGLISH CHURCH ROAD, PALAKKAD, PIN - 678 014.BY SRI. JOSE JOSEPH (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON28.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Co-operative Societies Act, 1969.Ext.P1 order of assessment was issued against the petitioneron 20.12.2016. In the assessment order, petitioner's claim fordeduction under Section 80P was rejected on the ground thatthere was no evidence to show that 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 1[st] respondent, petitioner has sought to canvass that thejudgment of the Supreme Court in Mavilayi Service Co- operative Bank Ltd. v. Commissioner of Income Tax[2021 (1) KLT 485] now governs the field thereby renderingthe assessment itself as incorrect. 3. Since the petitioner has already preferred an appeal as Ext.P3 and the same is pending consideration before the 1[st]respondent, I deem it fit that this writ petition be disposed ofdirecting the competent Appellate Authority to consider theappeal in a time bound manner. WP(C) NO. 20970 OF 2022 3 4. Accordingly, there will be a direction to the 1[st]respondent / competent Appellate Authority to consider andpass appropriate orders on Ext.P3, as expeditiously aspossible. 5. Till the disposal of the appeal, no coercive steps shall be initiated against the petitioner pursuant to Ext.P1assessment order. The writ petition is disposed of as above. DK Sd/- GOPINATH P. JUDGE APPENDIX OF WP(C) 20970/2022 PETITIONER EXHIBITS Exhibit P1TRUE COPY OF THE ASSESSMENT ORDER DATED 20.12.2016 ISSUED BY THE 2ND RESPONDENT FOR THE ASSESSMENT YEAR 2014-15. Exhibit P2 TRUE COPY OF THE NOTICE DATED 20.12.2016 ISSUED BY THE 2ND RESPONDENT OF UNDER SECTION 156 OF THEINCOME TAX ACT FOR ASSESSMENT YEAR 2014-15. Exhibit P3 TRUE COPY OF THE APPEAL DATED 24.01.2017 FILED BY THE PETITIONER BEFORE THE 1ST RESPONDENT FOR THE ASSESSMENT YEAR 2014-15. Exhibit P4 TRUE COPY OF THE PROCEEDING DATED 9.6.2022 ISSUED BY THE 2ND RESPONDENT IN RELATION TO THE ASSESSMENT YEAR 2014-15. Exhibit P5 TRUE COPY OF THE JUDGMENT DATED 6.09.2021 IN WP(C).NO. 18004 OF 2021 RENDERED BY THIS HON'BLE COURT.