Wp(C)/21836/2016 Of The Mararikulam Service Co-Operative Bank Limited v. The Commissioner Of Income Tax

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE TUESDAY, THE 28TH DAY OF JUNE 2016/7TH ASHADHA, 1938 WP(C).No. 21836 of 2016 (D) ---------------------------- PETITIONER(S):---------------------- MARARIKULAM SERVICE CO-OPERATIVE BANK LIMITED,MARARIKULAM, REPRESENTED BY ITS SECRETARY. BY ADV. SRI.O.D.SIVADAS. RESPONDENT(S):--------------------------- rs. WP(C).No. 21836 of 2016 (D) APPENDIX PETITIONER'S EXHIBITS:- EXHIBIT P1: TRUE COPY OF THE ORDER DATED 25.01.2016 FOR THE PERIOD 2012-13 ISSUED BY THE 2ND RESPONDENT.PERIOD 2012-13 ISSUED BY THE 2ND RESPONDENT. EXHIBIT P2: TRUE COPY OF THE ORDER DATED 25.01.2016 FOR THEPERIOD 2013-14 ISSUED BY THE 2ND RESPONDENT.PERIOD 2013-14 ISSUED BY THE 2ND RESPONDENT. EXHIBIT P3: TRUE COPY OF THE APPEAL FILED AGAINST EXT.P1 BEFORE THE IST RESPONDENT.BEFORE THE IST RESPONDENT. EXHIBIT P4: TRUE COPY OF THE STAY PETITION FILED BEFORE THE IST RESPONDENT AGAINST EXT.P1 ORDER.THE IST RESPONDENT AGAINST EXT.P1 ORDER. EXHIBIT P5: TRUE COPY OF THE DELAY PETITION. EXHIBIT P6: TRUE COPY OF THE APPEAL FILED AGAINST EXT.P2 BEFORE THE IST RESPONDENTBEFORE THE IST RESPONDENT EXHIBIT P7: TRUE COPY OF THE STAY PETITION FILED BEFORE THE IST RESPONDENT AGAINST EXT.P1 ORDER.THE IST RESPONDENT AGAINST EXT.P1 ORDER. EXHIBIT P8: TRUE COPY OF THE DELAY PETITION. EXHIBIT P9: TRUE COPY OF THE NOTICE DATED 03.03.2016 ISSUED BY THE IST RESPONDENT.THE IST RESPONDENT. EXHIBIT P10: COPY OF THE JUDGMENT DATED 04.03.2016 IN WP(C).NO.8554/2016.WP(C).NO.8554/2016. EXHIBIT P11: COPY OF THE ORDER DATED 07.06.2016 ISSUED BY THE IST RESPONDENT.IST RESPONDENT. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.S. TO JUDGE rs. A.M. SHAFFIQUE, J. ------------------------------------- W.P.(C) No. 21836 of 2016--------------------------------------Dated this the 28[th ] day of June, 2016 JUDGMENT Petitioner challenges Ext.P11 by which the stay petitionhad been dismissed, however, granting the petitioner aninstallment facility to pay the amount at the rate ofRs.50,000/- per month for the assessment years 2012-2013and 2013-2014. Though it is contended by the learnedcounsel for the petitioner that the appellate authority had notconsidered the legality of the contentions urged, I do not thinkso. The appellate authority had with due application of mind,passed the order. It is clearly observed that the assesee hadnot filed the return of income, even after sufficientopportunities were given at various stages of the assessmentproceedings. That apart, the interest on income from otherbanks had been treated as income from other sources. TheAssessing Officer had treated the interest as taxable income of W.P.(C) No. 21836 of 2016 the assessee.The appellate authority did not find anyinfirmity in the said method of assessment.As far as thebenefit under Section 80 P of the Income Tax Act, 1961 isconcerned, the appellate authority observed no such statementhas been made in terms of Section 80 P of the Act. 2.Taking into consideration the aforesaid factualsituation, I do not think that the petitioner has made out anyground to successfully challenge Ext.P11. 3.Learned counsel for the petitioner however pointsout that the petitioner's bank being a Co-operative Society isunder severe financial difficulties to pay the amounts asdirected. Petitioner seeks for an early disposal of the appeals. Taking into consideration the above said factual situation,I am of the view that this writ petition can be disposed of asunder: I. The appellate authority shall dispose of the appeals, as early as possible and not laterthan six months from the date of receipt of W.P.(C) No. 21836 of 2016 -3- a copy of this judgment. II. 2.Taking into consideration the aforesaid factualsituation, I do not think that the petitioner has made out anyground to successfully challenge Ext.P11. 3.Learned counsel for the petitioner however pointsout that the petitioner's bank being a Co-operative Society isunder severe financial difficulties to pay the amounts asdirected. Petitioner seeks for an early disposal of the appeals. Taking into consideration the above said factual situation,I am of the view that this writ petition can be disposed of asunder: I. The appellate authority shall dispose of the appeals, as early as possible and not laterthan six months from the date of receipt of W.P.(C) No. 21836 of 2016 -3- a copy of this judgment. II. In the meantime, instead of payment ofthe entire amount as directed in Ext.P11,the petitioner shall pay 50% of the demandin instalments of Rs.25,000/- each asstated in Ext.P11. Sd/- A.M. SHAFFIQUE JUDGE