While Assailing The Assessment Order Beforethe 3[Rd] Respondent, Petitioner Has Sought To Canvasthat The Judgment Of The Supreme Court In Mavilayiservice Co-Ope v. Commissionerof Income Tax; 2021 (1) Klt 485 Now Governs Thefield Thereby Rendering The Assessment Itself Asincorrect

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 25 DAY OF NOVEMBER 2022 / 4TH AGRAHAYANA, 1944 WP(C) NO. 37993 OF 2022 PETITIONER: VELUR SERVICE CO-OPERATIVE BANK LTD NO.465VELUR P.O, THRISSUR-680601REPRESENTED BY ITS SECRETARY PIN - 680601BY ADV C.A.JOJO RESPONDENTS:1THE INCOME TAX OFFICERWARD-2(4), AYAKAR BHAVAN,NEAR SAKTHAN STAND, THRISSUR-68001PIN - 6800012INCOME TAX OFFICERNATIONAL FACELESS ASSESSMENT CENTRE,NORTH BLOCK, NEW DELHI-110001.PIN - 1100013THE COMMISSIONER OF INCOME TAX ( APPEALS)NATIONAL FACELESS ASSESSMENT CENTRE,NORTH BLOCK, NEW DELHI-110001.PIN - 110001 ADV. JOSE JOSEPH (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.11.2022, THECOURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT Dated this the 25[th] day of November, 2022 Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Co-operative SocietiesAct, 1969. Ext.P1 order of assessment was issuedagainst the petitioner. In the assessment order,petitioner's claim for deduction under Section 80P wasrejected on the ground that there was no evidence toshow that petitioner satisfied the ingredients of thePrimary Agricultural Credit Society as contemplatedunder the Kerala Co-operative Societies Act. 2. While assailing the assessment order beforethe 3[rd] respondent, petitioner has sought to canvasthat the judgment of the Supreme Court in MavilayiService Co-operative Bank Ltd. v. Commissionerof Income Tax; 2021 (1) KLT 485 now governs thefield thereby rendering the assessment itself asincorrect. 3. Since the petitioner has already preferred an WPC No.37993 of 2022 appeal as Ext.P3 and the same is pendingconsideration before the Commissioner of Income Tax (Appeals) (3[rd] respondent), I deem it fit that this writpetition be disposed of directing the Commissioner ofIncome Tax (Appeals) to consider the appeal in a timebound manner. 4. Accordingly, there will be a direction to the 3[rd]respondent to consider and pass appropriate orderson Ext.P3, as expeditiously as possible within a periodof 2 months from the date of receipt of a copy of thisjudgment. 5. Till the disposal of the appeal, no coercive steps shall be initiated against the petitioner pursuantto Ext.P1 assessment order. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE APPENDIX OF WP(C) 37993/2022 PETITIONER EXHIBITSExhibit P1A TRUE COPY OF THE ASSESSMENT ORDER FOR AY 2020-21 DATED 26.09.2022 ISSUED BY THE 2ND RESPONDENT.Exhibit P2A TRUE COPY OF THE DEMAND NOTICE U/S 156 DATED 26.2022 ISSUED BY THE 2ND RESPONDENTExhibit P3A TRUE COPY OF THE APPEAL FOR AY 2021-22 BEFORE THE 3RD RESPONDENT DATED 22.10.2022 Exhibit P4A TRUE COPY OF THE STAY PETITION FOR AY 2021-22 BEFORE THE 3RD RESPONDENT DATED 22.10.2022Exhibit P5A TRUE COPY OF THE JUDGMENT IN WP(C) NO.36879 OF 2022 DATED 25.10.2022 RESPONDENTS' EXHIBITS:NIL TRUE COPY P.A.TO JUDGE