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

IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 3 DAY OF JUNE 2022 / 13TH JYAISHTA, 1944WP(C) NO. 15117 OF 2022 PETITIONER: KODUNGALLUR TALUK PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD.NO.R 1353, P.O. KODUNGALLUR - 680 664, THRISSUR DISTRICT, REPRESENTED BY ITS SECRETARY,SHRI SHOUKATHALI K. K. BY ADVS.T.M.SREEDHARAN (SR.)V.P.NARAYANANALAN PRIYADARSHI DEV RESPONDENTS: 1THE INCOME TAX OFFICEROFFICE OF THE INCOME TAX OFFICER, WARD NO.2(1), AAYAKAR BHAVAN, INCOME TAX OFFICE, SHAKTHAN THAMPURAM NAGAR, THRISSUR - 680 001. 2THE COMMISSIONER OF INCOME TAX (APPEALS)NATIONAL FACELESS APPEAL CENTRE, NEW DELHI - 110 001. BY ADVS.P.K.RAVINDRANATHA MENON (SR.)JOSE JOSEPH, SC, INCOME TAX DEPARTMENT, KERALA THIS WRIT PETITION (CIVIL) HAVING COME UP FORADMISSION ON 03.06.2022, THE COURT ON THE SAME DAYDELIVERED THE FOLLOWING: W.P.(C) No.15117/2022 -:2:- J U D G M E N T Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Co-operative Societies Act,1969. Ext.P1 order of assessment was issued against thepetitioner on 26.03.2022. In the assessment order,petitioner's claim for deduction under Section 80P wasrejected on the ground that there was no evidence to showthat petitioner satisfied the ingredients of the PrimaryAgricultural Credit Society as contemplated under theKerala 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 appealas Ext.P2 and the same is pending consideration before the 1[st] respondent, I deem it fit that this writ petition be W.P.(C) No.15117/2022 disposed of directing the Appellate Authority to considerthe appeal in a time bound manner. 4. Accordingly, there will be a direction to the 1[st]respondent to consider and pass appropriate orders onExt.P2, as expeditiously as possible. 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. Sd/- GOPINATH P.JUDGE ats APPENDIX OF WP(C) 15117/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ASSESSMENT ORDER AND DEMAND NOTICE DATED 26.03.2022 ALONG WITH COMPUTATION OF INCOME ALONG WITH DEMAND NOTICE PASSED BY THE 1ST RESPONDENT FOR AY 2014-15. Exhibit P2 TRUE COPY OF THE MEMORANDUM OF APPEAL E-FILED DATED 19.04.2022 FOR THE ASSESSMENT YEAR 2014-15 FILED BEFORE THE1ST RESPONDENT. Exhibit P3 TRUE COPY OF THE STAY PETITION DATED 19.04.2022 FILED BY THE PETITIONER BEFORE THE 1ST RESPONDENT. Exhibit P4 TRUE COPY OF THE JUDGMENT DATED 13.09.2021 IN W.P.(C) NO.13393/2021 OF THIS HON'BLE COURT. 13.09.2021 IN W.P.(C) NO.13393/2021 OF