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. WEDNESDAY, THE 15 DAY OF JUNE 2022 / 25TH JYAISHTA, 1944WP(C) NO. 8888 OF 2020 PETITIONER: ULIYACOVIL SERVICE CO-OPERATIVE BANK LTD.(NO.1003),ASRAMAM P.O., KOLLAM-691 002, REPRESENTED BY ITS SECRETARY K.K.SANTHI BY ADV KMV.PANDALAI RESPONDENTS: 1THE INCOME TAX OFFICERWARD-4,KOLLAM-691 001 2THE COMMISSIONER OF INCOME-TAX (APPEALS)AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM-695 003 OTHER PRESENT: SRI. CHRISTOPHER ABRAHAM (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FORADMISSION ON 15.06.2022, THE COURT ON THE SAME DAYDELIVERED THE FOLLOWING: W.P.(C) No.8888/2020 JUDGMENT Petitioner is a Primary Agricultural Credit Society registered under the Kerala Co-operative Societies Act,1969. Ext.P1 order of assessment was issued against thepetitioner on 07.12.2019. 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 2[nd] 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 the2[nd ]respondent, I deem it fit that this writ petition bedisposed of directing the Appellate Authority to consider W.P.(C) No.8888/2020 the appeal in a time bound manner. 4. Accordingly, there will be a direction to the 2[nd] 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/-JUDGE GOPINATH P. ats APPENDIX OF WP(C) 8888/2020 PETITIONER EXHIBITS EXHIBIT - P1COPY OF ASSESSMENT ORDER DATED 7.12.2019EXHIBIT - P2COPY OF DEMAND NOTICE U/S.156 OF THE IT ACTDATED 7.12.19 ISSUED BY THE 1ST RESPONDENTEXHIBIT - P3COPY OF APPEAL FILED BEFORE THE 2ND RESPONDENT DATED 9.1.2020 WITH STATEMENT OFFACTS AND GROUNDS OF APPEAL EXHIBIT - P3(A) COPY OF STAY PETITION DATED 15.01.2020EXHIBIT - P4TRUE COPY OF THE NOTICE U/S 22(1) OF THE ITACT DATED 17.03.2020 ISSUED BY THE 1ST RESPONDENT