Wp(C) 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. TUESDAY, THE 16 DAY OF AUGUST 2022 / 25TH SRAVANA, 1944WP(C) NO. 26145 OF 2022 PETITIONER/S: PULLUKULANGARA SERVICE COOPERATIVE BANK LTDAGED 50 YEARSNO. 299 KAYAMKULAM P.O, ALAPPUZHA REPRESENTED BY ITS SECRETARY P.K SUBASH , PIN - 690502 BY ADVS.GOKUL D. SUDHAKARAN R.HARIKRISHNAN (KAMBISSERIL)NEERAJ NARAYAN RESPONDENT/S: 1THE COMMISSIONER OF INCOME TAX(APPEALS),PANAMPILLY NAGAR, ERNAKULAM, PIN - 682036(APPEALS),PANAMPILLY NAGAR, ERNAKULAM, PIN - 6820362THE DEPUTY COMMISSIONER OF INCOME TAXDEPARTMENT OF INCOME TAXCENTRAL CIRCLE, KOTTAYAM , PIN - 686001DEPARTMENT OF INCOME TAXCENTRAL CIRCLE, KOTTAYAM , PIN - 6860013THE ASSISTANT COMMISSIONER OF INCOME TAXDEPARTMENT OF INCOME TAXCENTRAL CIRCLE, KOTTAYAM , PIN - 686001DEPARTMENT OF INCOME TAXCENTRAL CIRCLE, KOTTAYAM , PIN - 6860014THE INCOME TAX OFFICER NATIONAL FACE LESS ASSESSMENT CENTER DELHINATIONAL FACE LESS ASSESSMENT CENTER DELHI , PIN - 1100545THE INCOME TAX OFFICER WARD NO. 2, ALAPPUZHA, PIN - 688001 SRI. JOSE JOSEPH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 26145 OF 2022 2 JUDGMENT Petitioner is a Primary Agricultural Credit Societyregistered under the Kerala Co-operative Societies Act, 1969.The assessment orders for the assessment years 2014-2015,2015-2016 and 2017-2018 were issued against the petitioner. In the assessment orders, petitioner's claim for deductionunder Section 80P was rejected on the ground that there wasno evidence to show that petitioner satisfied the ingredientsof the Primary Agricultural Credit Society as contemplatedundertheKeralaCo-operativeSocietiesAct.2. While assailing the assessment orders in Appeal, thepetitionerhassoughttocanvassthatthejudgment 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 the appeals as Exts.P1, P3 and P5 along with stay petitions asExts.P2,, P4 and P6 and the same are pending considerationbefore the 1[st] respondent, I deem it fit that this writ petitionbe disposed of directing the Appellate Authority to consider the appeal in a time bound manner. 4. Accordingly, there will be a direction to thecompetent among the respondents to consider and passappropriate orders on Exs.P1, P3 and P5 as expeditiously aspossible. 5. Till the disposal of the appeals, no coercive stepsshall be initiated against the petitioner pursuant to to theassessment orders and Exts.P7, P8 and P9 demand notices. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE WP(C) NO. 26145 OF 2022 4 APPENDIX OF WP(C) 26145/2022 PETITIONER EXHIBITSExhibit P1 Exhibit P2 Exhibit P3 Exhibit P4 Exhibit P5 Exhibit P6 Exhibit P7 Exhibit P8 Exhibit P9 A TRUE COPY OF THE APPEAL FILED UNDER SECTION35 OF THE INCOME TAX ACT FOR THE ASSESSMENT YEAR 2014-2015 DATED 06.07.2022 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE APPEAL FILED UNDER SECTION35 OF THE INCOME TAX ACT FOR THE ASSESSMENT YEAR 2015-2016 DATED 06.07.2022 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE APPEAL FILED UNDER SECTION35 OF THE INCOME TAX ACT FOR THE ASSESSMENT YEAR 2017-2018 DATED 2.01.2022 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2017-2018 A TRUE COPY OF THE DEMAND NOTICE DATED 16.03.2022 ISSUED BY THE 5TH RESPONDENT TO THE PETITIONER FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE DEMAND NOTICE DATED 26.03.2022 ISSUED BY THE 5TH RESPONDENT TO THE PETITIONER FOR THE ASSESSMENT YEAR 2015-2016 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE APPEAL FILED UNDER SECTION35 OF THE INCOME TAX ACT FOR THE ASSESSMENT YEAR 2015-2016 DATED 06.07.2022 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE APPEAL FILED UNDER SECTION35 OF THE INCOME TAX ACT FOR THE ASSESSMENT YEAR 2017-2018 DATED 2.01.2022 A TRUE COPY OF THE STAY PETITION DATED 26.07.2022 FOR THE ASSESSMENT YEAR 2017-2018 A TRUE COPY OF THE DEMAND NOTICE DATED 16.03.2022 ISSUED BY THE 5TH RESPONDENT TO THE PETITIONER FOR THE ASSESSMENT YEAR 2014-2015 A TRUE COPY OF THE DEMAND NOTICE DATED 26.03.2022 ISSUED BY THE 5TH RESPONDENT TO THE PETITIONER FOR THE ASSESSMENT YEAR 2015-2016 A TRUE COPY OF THE DEMAND NOTICE DATED 21.12.2019 ISSUED BY THE 5TH RESPONDENT TO THE PETITIONER FOR THE ASSESSMENT YEAR 2017-2018