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-O 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 ERNAKULAMPRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 1 DAY OF JULY 2022 / 10TH ASHADHA, 1944WP(C) NO. 21469 OF 2022 PETITIONER/S: THE KANNADI SERVICE CO-OPERATIVE BANK LIMITED NO. F1572,KANNADI. P.O. PALAKKAD DISTRICT PIN - 678701, REPRESENTED BY ITS SECRETARY.BY ADV O.D.SIVADAS RESPONDENT/S: 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. SRI. JOSE JOSEPH (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON01.07.2022, 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 petitioner on24.12.2019. 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 asExt.P3 and the same is pending consideration before the 1[st]respondent, I deem it fit that this writ petition be disposed ofdirecting the Appellate Authority to consider the appeal in atime bound manner. 4. Accordingly, there will be a direction to the 1[st] ajt respondent to consider and pass appropriate orders on Ext.P3as expeditiously as possible. 5. Till the disposal of the appeal, no coercive steps shall be initiated against the petitioner pursuant to Ext.P1 assessmentorder and Exts.P2 and P4 demand notices. The writ petition is disposed of as above. sd/- GOPINATH P.JUDGE WP(C) NO. 21469 OF 2022 4 APPENDIX OF WP(C) 21469/2022 PETITIONER EXHIBITS Exhibit P1 Exhibit P2 Exhibit P3 Exhibit P4 Exhibit P5 TRUE COPY OF THE ASSESSMENT ORDER DATED24.12.2019 ISSUED BY THE 2ND RESPONDENT FORTHE ASSESSMENT YEAR 2017-18. TRUE COPY OF THE NOTICE DATED 24.12.2019ISSUED BY THE 2ND RESPONDENT OF UNDER SECTION156 OF THE INCOME TAX ACT FOR ASSESSMENT YEAR2017-18. TRUE COPY OF THE APPEAL DATED 24.01.2020FILED BY THE PETITIONER BEFORE THE 1STRESPONDENT FOR THE ASSESSMENT YEAR 2017-18. TRUE COPY OF THE PROCEEDING DATED 9.6.2022ISSUED BY THE 2ND RESPONDENT IN RELATION TOTHE ASSESSMENT YEAR 2017-18. TRUE COPY OF THE JUDGMENT DATED 6.09.2021 INWP(C).NO. 18004 OF 2021 RENDERED BY THISHON'BLE COURT.