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 Rendering Theassessment Itself As Incorrect

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 30 DAY OF JUNE 2022 / 9TH ASHADHA, 1944 WP(C) NO. 21397 OF 2022 PETITIONER: THE ELAPPULLY SERVICE CO-OPERATIVE BANK LIMITED NO.F 1193,ELAPPULLY, PALAKKAD DISTRICT, PIN-678 622, REPRESENTED BY ITS SECRETARY. 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 ADV.JOSE JOSEPH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON30.06.2022, 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 25.12.2018. 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 rendering theassessment 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. 21397 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 as possible. 5. Till the disposal of the appeal, no coercive steps shallbe 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) 21397/2022 PETITIONER EXHIBITS Exhibit P1TRUE COPY OF THE ASSESSMENT ORDER DATED 25.12.2018 ISSUED BY THE 2ND RESPONDENT FOR THE ASSESSMENT YEAR 2016-17. Exhibit P2TRUE COPY OF THE NOTICE DATED 25.12.2018 ISSUED BY THE 2ND RESPONDENT OF UNDER SECTION 156 OF THEINCOME TAX ACT FOR ASSESSMENT YEAR 2016-17. Exhibit P3TRUE COPY OF THE APPEAL DATED 16.1.2019 FILED BY THE PETITIONER BEFORE THE 1ST RESPONDENT FOR THE ASSESSMENT YEAR 2016-17. Exhibit P4TRUE COPY OF THE PROCEEDING DATED 9.6.2022 ISSUED BY THE 2ND RESPONDENT IN RELATION TO THE ASSESSMENT YEAR 2016-17. Exhibit P5TRUE COPY OF THE JUDGMENT DATED 6.9.2021IN WP(C) NO.18004 OF 2021 RENDERED BY THIS HON'BLE COURT.