Wp(C)/14906/2018 Of Venjaramood Service Co-Operative Bank Ltd v. The Income Tax Officer, Ward-2 (3)

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR TUESDAY, THE 29TH DAY OF MAY 2018 / 8TH JYAISHTA, 1940 WP(C).No. 14906 of 2018 PETITIONER(S) VENJARAMOOD SERVICE CO-OPERATIVE BANK LTD NO.2419, REPRESENTED BY ITS SECRETARY, VENJARAMOODU P.O, THIRUVANANTHAPURAM DISTRICT-695 607 BY ADVS.SRI.V.G.ARUN SRI.T.R.HARIKUMAR SRI.JAIBY PAUL SRI.ARJUN RAGHAVAN SRI.ADITHYA RAJEEV RESPONDENT(S): 1. THE INCOME TAX OFFICER, WARD-2 (3), OFFICE OF THE JOINT COMMISSIONER OF INCOME TAX, RANGE-2, AAYAKAR BHAVAN, KOSDIAR P.O, THIRUVANANTHAPURAM DISTRICT-695 003. 2. THE COMMISSIONER OF INCOME TAX(APPELS) AAYAKAR BHAVAN, KOSDIAR, THIRUVANANTHAPURAM-695 003. BY SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29-05-2018, ALONG WITH WP(C).No.15070 of 2018 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER(S)' EXHIBITS EXT.P1: A TRUE COPY OF THE CERTIFICATE DATED 17/10/2016, ISSUED BY THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL), THIRUVANANTHAPURAM EXT.P2: TRUE COPY OF THE ASSESSMENT ORDER FOR THE YEAR 2011 - 2012 DATED 18/12/2017. 2011 - 2012 DATED 18/12/2017. EXT.P3: A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 18/12/2017. RESPONDENT DATED 18/12/2017. EXT.P4: A TRUE COPY OF THE NOTICE NO.AAAAV3571C/ITO/W-2(3)/TVM/2017-18 DATED 09/02/2018. NO.AAAAV3571C/ITO/W-2(3)/TVM/2017-18 DATED 09/02/2018. EXT.P5: A TRUE COPY OF THE JUDGMENT DATED 21/12/2017 IN WP(C).NO.38566 OF 2017. WP(C).NO.38566 OF 2017. EXT.P6: A TRUE COPY OF THE JUDGMENT DATED 01/03/2018 IN WP(C).NO.6915 OF 2018. WP(C).NO.6915 OF 2018. EXT.P7: A TRUE COPY OF THE ORDER DATED 24/04/2018 IN ITA NO.171/EF/TVM/CIT(A), TVM/2018 - 2018. NO.171/EF/TVM/CIT(A), TVM/2018 - 2018. EXT.P8: A TRUE COPY OF THE RELEVANT PAGES OF THE AUDIT MEMORANDUM FOR THE YEAR 2010-2011. MEMORANDUM FOR THE YEAR 2010-2011. EXT.P9: A TRUE COPY OF THE ORDER DATED 18/11/2016 IN ITA.NO.361/COCH/2016. ITA.NO.361/COCH/2016. EXT.P10: A TRUE COPY OF THE ORDER DATED 28/02/2011 IN ITA.NO.159/PN/09. ITA.NO.159/PN/09. EXT.P11: A TRUE COPY OF THE NOTICE NO.AAAAV3571C/ITO/W-2(3)/TVM/2018/2019 NO.AAAAV3571C/ITO/W-2(3)/TVM/2018/2019 DATED 24/04/2018. // true copy // Sd/- PS TO JUDGE Kvs/- P.B.SURESH KUMAR, J. = = = = = = = = = = = = = = W.P.(C).Nos.14906, 15070 & 15221 of 2018. = = = = = = = = = = = = = = Dated this the 29[th] day of May, 2018 J U D G M E NT A writ petition preferred on identical facts and grounds bya similarly placed primary agricultural credit society registeredunder the Kerala Co-operative Societies Act, 1969 has beendisposed of by this Court in terms of the judgment in W.P.(C).No.9125 of 2018. In the light of the said judgment, thesewrit petitions are also disposed of modifying the impugned ordersdirecting the petitioners to pay 20% of the demand in six equalmonthly instalments in tune with the judgment in W.P.(C).No.9125 of 2018. The first instalment shall be paid by thepetitioner within two weeks from the date of receipt of a copy ofthis judgment. 2. The learned counsel for the petitioners submitsthat the petitioners prepared to offer explanation as regards the WPC.No.14906 of 2018 & con.cases. A writ petition preferred on identical facts and grounds bya similarly placed primary agricultural credit society registeredunder the Kerala Co-operative Societies Act, 1969 has beendisposed of by this Court in terms of the judgment in W.P.(C).No.9125 of 2018. In the light of the said judgment, thesewrit petitions are also disposed of modifying the impugned ordersdirecting the petitioners to pay 20% of the demand in six equalmonthly instalments in tune with the judgment in W.P.(C).No.9125 of 2018. The first instalment shall be paid by thepetitioner within two weeks from the date of receipt of a copy ofthis judgment. 2. The learned counsel for the petitioners submitsthat the petitioners prepared to offer explanation as regards the WPC.No.14906 of 2018 & con.cases. nature and source of the cash credits in their books which werebrought to tax as unexplained cash credits under Section 68 ofthe Income Tax Act, if an opportunity is given. This is a matterfor the appellate authority to consider at the time of disposal ofthe appeals and I do not find any reason for the appellateauthority to decline such a request, if made, at the time ofhearing. The writ petitions are disposed of as above. Sd/- P.B.SURESH KUMAR, JUDGE. Kvs/- // true copy //