Wp(C)/17658/2013 Of Poothadi Service Co-Operative Bank v. Income Tax Officer

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE V.CHITAMBARESH FRIDAY, THE 19TH DAY OF JULY 2013/28TH ASHADHA, 1935 WP(C).No. 17658 of 2013 (F) ---------------------------- PETITIONER(S): ---------------- POOTHADI SERVICE CO-OPERATIVE BANK REPRESENTED BY ITS PRESIDENT, KENICHERY SULTHAN BATHERY, WAYANAD - 673 596. BY ADVS.SRI.P.N.MOHANAN SMT.I.VINAYAKUMARI RESPONDENT(S): ----------------- 1. INCOME TAX OFFICER WARD 14, INCOME TAX DEPARTMENT, KOZHIKODE- 673 001. 2. COMMISSIONER OF INCOME TAX (APPEALS) KOZHIKODE - 673 001. R BY SRI.JOSE JOSEPH, SC, FOR INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19-07-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 17658 of 2013 (F) ---------------------------- APPENDIX PETITIONER(S)' EXHIBITS ---------------------------- EXHIBIT-P1-ATRUE COPY OF THE ASSESSMENT ORDER 2010-2011 ALONG WITH DEMAND NOTICE DATED 18/03/2013.DEMAND NOTICE DATED 18/03/2013. EXHIBIT-P2-A TRUE COPY OF THE DEMAND NOTICE DATED 07/05/2013. EXHIBIT-P3-A TRUE COPY OF THE SHOW CAUSE NOTICE DATED 18/03/2013 UNDER SECTION 271.UNDER SECTION 271. EXHIBIT-P4-A TRUE COPY OF THE SHOW CAUSE NOTICE DATED 18/03/2013 UNDER SECTION 271B.UNDER SECTION 271B. EXHIBIT-P5-A TRUE COPY OF THE SHOW CAUSE NOTICE DATED 18/03/2013 UNDER SECTION 271F.UNDER SECTION 271F. EXHIBIT-P6-ATRUE COPY OF THE REPLY DATED 30/04/2013 OF THE BANK AGAINST EXHIBIT-P3.AGAINST EXHIBIT-P3. EXHIBIT-P7-ATRUE COPY OF THE REPLY DATED 30/04/2013 OF THE BANK AGAINST EXHIBIT-P4AGAINST EXHIBIT-P4 EXHIBIT-P8-A TRUE COPY OF THE REPLY DATED 30/04/2013 OF THE BANK AGAINST EXHIBIT-P5.AGAINST EXHIBIT-P5. EXHIBIT-P9-A TRUE COPY OF THE CIRCULAR NO. 6/2010 DATED 20/09/2010 OF THE DEPARTMENT.THE DEPARTMENT. EXHIBIT-P10-A TRUE COPY OF THE APPEAL MEMORANDUM DATED 19/04/2013. //TRUE COPY// P.S. TO JUDGE. V.CHITAMBARESH, J. ------------------------------- W.P (C) No.17658 of 2013 ------------------------------- Dated this the 19[th] day of July, 2013 J U D G M E N T The claim for exemption made by the petitioner underSection 80 P of the Income Tax Act, 1961 has been turned downby the first respondent and Ext.P1 order of assessment followed.Ext.P1 order has admittedly been challenged by the petitioner inExt.P10 appeal preferred with the second respondent howeverwithout the requisite pre-deposit of tax. It is for the petitioner toseek exemption from pre-deposit in terms of the proviso toSection 249 (4) of the Income Tax Act, 1961. 2. The petitioner is also at liberty to apply for stay of recovery of the disputed tax in the appeal dependent on theorders passed on the application for exemption. The secondrespondent shall consider as to whether the petitioner is aprimary agricultural credit society as claimed with reference tothe object of the society and the nature of the transactions beingdone. 3. The coercive proceedings if any pursuant to Ext.P1 order of assessment shall be deferred for a period of six weeks to W.P (C) No.17658 of 2013 2 enable the petitioner to work out his remedy as above. The Writ Petition is disposed of. V.CHITAMBARESH,Judge. nj.