Wp/18342/2021 Of Sagar Credit Co-Operative Society Ltd v. Commissioner Of Income Tax (Appeals)

IN THE HIGH COURT OF KARNATAKA AT BENGALURU|DATED THIS THE 8 DAY OF OCTOBER 20271 BEFORE THE HON'BLE MR .JUSTICE S. SUNIL DUTT YADAV$WRIT PETITION No.18342/2021 (TIT) Between:| Sagar Credit Co-operative Society Ltd.,Main Road, N.H.17, Byndoor,Kundapura Taluk, Udupi District - 576 214Represented by Chief Executive Officer. (By Sri Mahesn R. Uppin, Advocate) .. Petitioner. And 1.Commissioner of Income Tax (Appeals), National Faceless Appeal Centre,|National Faceless Appeal Centre,| Room No.356, |C.R.Building,I.P. Estate,New DelIni - 110 OO2.C.R.Building,I.P. Estate,New DelIni - 110 OO2. 2D.Income Tax Officer, Ward-2,Aayakar Bhavan, |Aadi-Udupi Malpe Road,Udupi - 576 103.|Aayakar Bhavan, |Aadi-Udupi Malpe Road,Udupi - 576 103.| 3.Assessing Officer,National e-Assessment Centre,Delhi - 110 002.National e-Assessment Centre,Delhi - 110 002. ... Respondent (By Sri Jeevan J. Neeralgi, Advocate) This Writ Petition ts filed under Articles 2276 & 22/7 of thConstitution of India, praying to quash the Assessment Orderdated 23.04.2021 passed in PAN No. by the 3rd)Respondent marked as ANNEXURE "A" by issuing a writ in the|nature of Certiorari and etc. This Writ Petition coming on for preliminary nearing thisday, the Court made the following: ORDER The petitioner, who is a Credit Co-operative Societyregistered under the Karnataka Co-operative Societies Act,|1959 has filed this petition seeking to set aside theAssessment.orderdated23.04.7071passedDYtneAssessing Officer vide Annexure-A and in the alternative,|Nas sougnt for issuance of writ in the nature of mandamus|to direct the first respondent to dispose of the appeal at|Annexure-'C’ of the petition. 2 |The principal contention of the petitioner is that|refusal of deduction by the Assessing Officer in theimpugned order is contrary to the law laid down by thneApex Court in the case of|Mavilayl Service Co-operative|Bank Ltd. and Others|4"Commissioner of Income Tax,Calicut and Anotherreported in2021 SCC Online SC 16. It is submitted that the judgment of Apex Court in the case. of|Citizen Cooperative Society Ltd.,ThroughitsManagingDirector,HyderabadV AssistantCommissioner of Income Tax, Circie-9(1), Hyderabadreported in(2017) 397 ITR 1Was Clarified by the Apex|Court. It is submitted that in lignt of the above judgment,|the impugned order is liable to be set aside. ‘3.Learned counsel appearing for the Revenuesubmits that aS an appeal has already been filed and ispending, the question of this Court entertaining the Writ|petition at this stage does not arise. Upon instructions, it issubmitted that the appeal would be disposed off witnin aperiod of not later than four months from this day. 4 |In lignt of the submission that the appeal itself|would be disposed off expeditiously, it would not beappropriate to adjudicate on the contention of petitioner as raised. 5.|Insofar as the prayer of petitioner that the)impugned order needs to be Kept in abeyance and theconsequent demand notice also needs to be stayed, it wouldbe appropriate to observe tnat such request can be made|before the respondent No.1 - First Appellate Authority andthe said respondent while considering grant of stay, subjectto deposit, is to Keep in mind the position of law including|the judgment of Apex Court whicn the petitioner asserts|would enure to Its benefit. | 6.|Needless to state that while considering theaspect of stay, merits of the matter are to be taken note of and to that end, the assertion of petitioner that thejudgment of Apex Court would enure to its benefit is almatter to be taken note of appropriately by the FirstAppellate Authority. Tne contentions of parties are kept|open.| 7 |In light of the submission that the appeal would| be disposed off within a period of not later than four ������������*�������������������������������������������������������������������������������������������������� ,������������������������������������������� �������-#� ���������������������./�01� ����