While Assailing The Assessment Order Before The3[Rd] Respondent, Petitioner Has Sought To Canvas That Thejudgment Of The Supreme Court In Mavilayi Serviceco-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 ERNAKULAMPRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 24 DAY OF JULY 2024 / 2ND SRAVANA, 1946WP(C) NO. 26424 OF 2024 PETITIONER: CHAVAKKAD FIRKA CO-OPERATIVE RURAL BANK LTD,NO.F.1250, MUTHUVATTOOR, CHAVAKKAD P.O, THRISSUR DISTRICT, REPRESENTED BY ITS SECRETARY, PIN – 680 506. BY ADV C.A.JOJO RESPONDENTS: 1THE INCOME TAX OFFICER,WARD 1 & TPS, GURUVAYOOR, CITY PLAZA, WEST NADA, THRISSUR, PIN – 680 101. 2THE ASSESSING OFFICER (NFAC),NATIONAL FACELESS ASSESSMENT CENTRE, NORTH BLOCK,NEW DELHI, PIN – 110 001. 3THE COMMISSIONER OF INCOME TAX ( APPEALS),NATIONAL FACELESS ASSESSMENT CENTRE, NORTH BLOCK,NEW DELHI, PIN – 110 001. BY ADV. SRI. JOSE JOSEPH (SC- INCOME TAX DEPT) THIS WRIT PETITION (CIVIL) HAVING COME UP FORADMISSION ON 24.07.2024, THE COURT ON THE SAME DAYDELIVERED THE FOLLOWING: 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 19.03.2024. 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 the3[rd] respondent, petitioner has sought to canvas that thejudgment of the Supreme Court in Mavilayi ServiceCo-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.P3 and the same is pending consideration before the3[rd] 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 3[rd] respondent to consider and pass appropriate orders onExt.P3, 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. ats Sd/- GOPINATH P.JUDGE APPENDIX OF WP(C) 26424/2024 PETITIONER’S EXHIBITS Exhibit P1A TRUE COPY OF THE ASSESSMENT ORDER FOR AY2022-23 ISSUED BY THE 2ND RESPONDENT DATED19.03.2024. Exhibit P2A TRUE COPY OF THE DEMAND NOTICE AY 2022-23ISSUED BY THE 2ND RESPONDENT DATED 19.03.2024. Exhibit P3A TRUE COPY OF THE APPEAL DATED 17.04.2024FILED BEFORE THE 3RD RESPONDENT. Exhibit P4A TRUE COPY OF THE STAY PETITION DATED16.04.2024 FILED BEFORE THE 3RD RESPONDENT