While Assailing The Assessment Order Before The2[Nd]Respondent, Petitioner Has Sought To Canvas That Thejudgment Of The Supreme Court In Mavilayi Service Co-Ope 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 ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 1 DAY OF AUGUST 2024 / 10TH SRAVANA, 1946WP(C) NO. 27396 OF 2024 PETITIONER: MUPPATHADAM SERVICE CO-OPERATIVE BANK LTD E-216,MUPPATHADAM P.O, ALUVA, COCHIN, KERALA, PIN – 683 110,REPRESENTED BY ITS SECRETARY SABU PANDANCHERY HARIDAS. BY ADVS. V.P.NARAYANANM.M.MONAYEM.PAUL VARGHESE RESPONDENTS: 1ASSESSMENT UNIT,NATIONAL E-ASSESSMENT CENTER, INCOME TAX DEPARTMENT, MINISTRY OF FINANCE, ROOM NO. 401, 2ND FLOOR, E-RAMP, JAWAHARLAL STADIUM, NEW DELHI, PIN – 110 003,REPRESENTED BY ITS INCOME TAX OFFICER. 2THE COMMISSIONER OF INCOME TAX (APPEALS),FACELESS APPELLATE CENTER (NFAC), NEW DELHI, PIN – 110 001. 3THE PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX (KERALA), CENTRAL REVENUE BUILDING, I.S. PRESS ROAD, KOCHI, PIN – 682 018. BY ADVS. SRI. JOSE JOSEPH (SR.SC-IT DEPT)SRI. CYRIAC TOM (Jr.SC - IT DEPT) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.08.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -:2:- 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 the petitioneron 12.04.2021. 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 the2[nd]respondent, petitioner has sought to canvas 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 be disposed of directing the Appellate Authority to consider the appeal in atime bound manner. 4. Accordingly, there will be a direction to the 2[nd] respondent to consider and pass appropriate orders onExt.P3, as expeditiously as possible. 5.Till the disposal of the appeal, no coercive stepsshall be initiated against the petitioner pursuant to Ext.P1assessment order. The writ petition is disposed of as above. ats Sd/- GOPINATH P.JUDGE APPENDIX OF WP(C) 27396/2024 PETITIONER’S EXHIBITS Exhibit P1THE TRUE COPY OF THE ASSESSMENT ORDER DATED12.04.2021 ALONG WITH THE DEMAND NOTICE ISSUEDIN CASE OF THE PETITIONER FOR AY 2018-19 PASSEDBY THE 1ST RESPONDENT UNDER SECTION 143(3) OFTHE ACT. Exhibit P2TRUE COPY OF THE MEMORANDUM OF APPEAL FOR THEAY 2018-19, FILED BEFORE THE 2NDRESPONDENTDATED 03.05.2021.AY 2018-19, FILED BEFORE THE 2NDRESPONDENTDATED 03.05.2021. Exhibit P3THE TRUE COPY OF THE STAY PETITION DATED25.07.2024 FILED BEFORE THE 2NDRESPONDENT FORAY 2018-19.25.07.2024 FILED BEFORE THE 2NDRESPONDENT FORAY 2018-19. Exhibit P4THE TRUE COPY OF THE JUDGMENT IN THE CASE OFMUPPATHADAM SERVICE CO-OPERATIVE BANK VSASSESSMENT UNITIN W.P. (C) NO. 25885 OF 2024DATED 19.07.2024MUPPATHADAM SERVICE CO-OPERATIVE BANK VSASSESSMENT UNITIN W.P. (C) NO. 25885 OF 2024DATED 19.07.2024