While Assailing The Assessment Order Before The3[Rd ]Respondent, Petitioner Has Sought To Canvass That Thejudgment Of The Supreme Court In Mavilayi Serviceco-Op v. Commissioner Of Incometax [2021 (1) Klt 485] Now Governs The Field Therebyrendering The Assessment Itself As Incorrect

IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 2 DAY OF JUNE 2022 / 12TH JYAISHTA, 1944WP(C) NO. 17843 OF 2022 PETITIONER: THE EZHUMATTOOR SERVICE CO-OPERATIVE BANK LTD.,NO-1546, EZHUMATTOOR, MALLAPPALLY, PATHANAMTHITTA-689586 REPRESENTED BY ITSSECRETARY ALEXANDER C BY ADVS.K.P.PRADEEPHAREESH M.R.SANAND RAMAKRISHNANT.T.BIJUT.THASMIM.J.ANOOPASANU S MALAKEEL RESPONDENTS: 1THE CENTRAL BOARD OF DIRECT TAXES,DEPARTMENT OF REVENUE, MINISTRY OF FINANCE OF INDIA,NORTH BLOCK GOVERNMENT NEW DELHI-110001,REPRESENTED BY ITS CHAIRMANDEPARTMENT OF REVENUE, MINISTRY OF FINANCE OF INDIA,NORTH BLOCK GOVERNMENT NEW DELHI-110001,REPRESENTED BY ITS CHAIRMAN 2ADDITIONAL COMMISSIONER OF INCOME TAX, NATIONAL FACELESS ASSESSMENT CENTRE,DELHI ROOM NO. 401, 2ND FLOOR, E-RAMP, JAWAHARLAL NEHRU STADIUM, DELHI-110003NATIONAL FACELESS ASSESSMENT CENTRE,DELHI ROOM NO. 401, 2ND FLOOR, E-RAMP, JAWAHARLAL NEHRU STADIUM, DELHI-110003 3COMMISSIONER OF INCOME TAX (APPEALS) NATIONAL FACELESS APPEAL CENTRE (NFAC), DELHI, ROOM NO. 401, 2ND FLOOR, E-RAMP, JAWAHARLAL NEHRU STADIUM, DELHI-110003NATIONAL FACELESS APPEAL CENTRE (NFAC), DELHI, ROOM NO. 401, 2ND FLOOR, E-RAMP, JAWAHARLAL NEHRU STADIUM, DELHI-110003 THIS WRIT PETITION (CIVIL) HAVING COME UP FORADMISSION ON 02.06.2022, THE COURT ON THE SAME DAYDELIVERED THE FOLLOWING: J U D G M E N T Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Co-operative Societies Act,1969. Ext.P1 order of assessment was issued against thepetitioner on 07.04.2021. In the assessment order,petitioner's claim for deduction under Section 80P wasrejected without assigning any reason but ignoring the factthat the petitioner society is entitled for deduction underSection 80 P(2)(a)(i) on financial activities with membersand under Section 80(P)(2)(d) with respect to the interestincome received from the Co-Operative Society. 2.While assailing the assessment order before the3[rd ]respondent, petitioner has sought to canvass that thejudgment of the Supreme Court in Mavilayi ServiceCo-operative Bank Ltd. v. Commissioner of IncomeTax [2021 (1) KLT 485] now governs the field therebyrendering the assessment itself as incorrect. W.P.(C) No.17843/2022 3. Since the petitioner has already preferred an appeal as Ext.P2 and the same is pending considerationbefore the 3[rd] respondent, I deem it fit that this writpetition be disposed of directing the Appellate Authority toconsider the appeal in a time bound manner. 4.Accordingly, there will be a direction to the 3[rd] 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/-GOPINATH P. JUDGE APPENDIX OF WP(C) 17843/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ASSESSMENT ORDER NO ITBA/AST/S/143(3)/2021 22/1032251854(1) DATED 07-04-2021 ISSUED FOR THE YEAR 2018-19 BY THE 2NDRESPONDENT TO THE PETITIONER Exhibit P2 TRUE COPY OF THE APPEAL DATED 29-04-2021FILED FOR THE YEAR 2018-19 BEFORE THE 3RDRESPONDENT BY THE PETITIONER Exhibit P3 TRUE COPY OF THE DEMAND NOTICE ITBA/AST/S/156/2021-22/1032251865(1) DATED 07-04-2021 ISSUED FOR THE YEAR 2018-19 BY THE 2ND RESPONDENT Exhibit P4 TRUE COPY OF THE JUDGMENT DATED 23-02-2022 IN WPC NO 6109 OF 2022