The Petitioner In This Case Has Been Assessed v. This Court Has In Similar Circumstances In The

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE T.R.RAVI MONDAY, THE 27 DAY OF FEBRUARY 2023 / 8TH PHALGUNA, 1944 WP(C) NO. 34530 OF 2022 PETITIONER: 1THE VETTAKKAL SERVICE CO-OPERATIVE BANK LTD NO.1812 VETTAKKAL P.O, CHERTHALA, ALAPPUZHA, PIN - 688531 REPRESENTED BY ITS SECRETARYBY ADV C.A. JOJO RESPONDENTS: 1INCOME TAX OFFICERWARD-5, ALAPPUZHA, ALAPPUZHA, PIN - 6880112INCOME TAX OFFICER NATIONAL FACELESS ASSESSMENT CENTRE, NORTH BLOCK, NEW DELHI, PIN - 1100013THE COMMISSIONER OF INCOME TAX (APPEALS)OFFICE OF THE COMMISSIONER OF INCOME TAX, KOTTAYAM, PIN - 686002SRI. JOSE JOSEPH, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: T.R. RAVI, J. ------------------------------------ W.P.(C.) No.34530 of 2022------------------------------------Dated this the 27[th] day of February, 2023JUDGMENT The petitioner in this case has been assessed under the provisions of the Income Tax Act, 1961 forthe assessment year 2020-21. The Assessing Officerhas denied deduction in respect of the interest incomeunder Section 80P of the Income Tax Act. It iscontended that this Court has in the judgment inPCIT v. Peroorkada Service Co-operative BankLtd.; 442 ITR 141 held that such deductions are tobe allowed. Moreover, the Assessing Officer is boundto consider the effect of the judgment of the Hon'bleSupreme Court in Mavilayi Service Co-operativeBank Ltd. and others v. Commissioner ofIncome Tax and another; 431 ITR 1. 2. This Court has in similar circumstances in the WPC No.34530 of 2022 3 judgment dated 28.11.2022 in W.P.(C.) No.34316 of2022 and other cases, relying on the decision inPeroorkada (Supra), Mavilayi (Supra) and M/s.Poonjar Service Co-operative Bank Ltd. v.Income Tax Officer (W.A. No.753 of 2021), quashedthe assessment orders and directed the AssessingOfficer to reconsider and pass fresh assessmentorders. I do not find any reason to take a differentview. In the result, the writ petition is allowed. Ext.P2assessment order and Ext.P3 demand notice arequashed. There will be a direction to the 2[nd]respondent to pass fresh assessment orders inaccordance with law. SKP/27-02 Sd/- T.R.RAVIJUDGE APPENDIX OF WP(C) 34530/2022 PETITIONER’S EXHIBITS: EXHIBIT P1A TRUE COPY OF THE ASSESSMENT ORDER U/S 143(3) WITH NIL INCOME FOR AY 2015-16 DATED 19.12.2017ISSUED BY THE 1ST RESPONDENT. EXHIBIT P2A TRUE COPY OF THE ASSESSMENT ORDER U/S 143(3) FOR AY 2020-21 DATED 20.09.2022 ISSUED BY THE SECOND RESPONDENTEXHIBIT P3A TRUE COPY OF THE DEMAND NOTICE U/S 156 FOR AY2020-21 DATED 20.09.2022 ISSUED BY THE SECOND RESPONDENT. EXHIBIT P4 A TRUE COPY OF THE STAY ORDER IN WP(C)NO.33413/2022 DATED 20.10.2022 RESPONDENTS' EXHIBITS:NIL TRUE COPY P.A. TO JUDGE