Wp(C)/27560/2019 Of Kunnamkulam Co-Operative Urban Bank v. The Commissioner Of Income Tax Appeals

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR WEDNESDAY, THE 16TH DAY OF OCTOBER 2019 / 24TH ASWINA, 1941WP(C).No.27560 OF 2019 PETITIONER: KUNNAMKULAM CO-OPERATIVE URBAN BANKLTD NO.698,KUNNAMKULAM, THRISSUR-680503REPRESENTED BY ITS SECRRETARY BY ADV. SRI.P.C.SASIDHARAN RESPONDENTS: BY ADV.SRI.JOSE JOSEPH,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON16.10.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT Aggrieved by Ext.P1 assessment order under the Income Tax Actfor the assessment year 2010-2011, the petitioner has preferred Ext.P3appeal before the Commissioner of Income Tax Appeals. He has alsomoved Ext.P5 application for stay before the 3[rd] respondent in terms ofSection 220(6) of the Income Tax Act. The limited prayer of thepetitioner is for a direction to the 1[st] respondent, before whom Ext.P3appeal is pending, to consider and pass orders on the same expeditiously,after hearing him and to keep in abeyance recovery steps for recovery ofamounts confirmed against the petitioner by Ext.P1 assessment order. 2. I have heard Sri.P.C.Sasidharan, the learned counsel appearingfor the petitioner and also Sri.Jose Joseph, the learned Standing counselappearing for the Income Tax Department. On a consideration of the facts and circumstances of the case asalso the submissions made across the bar, I find that the main issue inthe appeal pertains to the claim for deduction under Section 80P of theIncome Tax Act. In view of the decision of the Division Bench of thisCourt where, under similar circumstances, the appellate authorities weredirected to consider the appeals preferred by the assessee, and a staywas granted against recovery proceedings in the interregnum, I deem it appropriate to dispose the writ petition with the following directions: 1. The 1[st] respondent, before whom Ext.P3 appealpreferred by the petitioner against Ext.P1assessment order is pending, shall consider andpass orders in the appeal expeditiously and at anyrate within a period of six months from the date ofreceipt of a copy of this judgment, after hearingthe petitioner. 2. Recovery steps for recovery of amountsconfirmed against the petitioner by Ext.P1assessment order, including further proceedingspursuant to Ext.P2 and P4 notices, shall be kept inabeyance till such time as orders are passed by the1[st] respondent as directed above and the ordercommunicated to the petitioner. 3. The petitioner shall produce a copy of the writpetition together with a copy of this judgment,before the 1[st] respondent, for further action. mns Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE JUDGE APPENDIX PETITIONERS EXHIBITS EXHIBIT -P1 TRUE COPY OF THE ASSESSMENT ORDER DATED 30.11.2018 EXHIBIT P2- TRUE COPY OF THE DEMAND NOTICE DATED 30.11.2018 EXHIBIT P3- TRUE COPY OF THE MEMORANDUM OF APPEAL PREFERRED BEFORE THE COMMISSIONER OF INCOME TAX APPEALS DATED 13.092019 EXHIBIT P4:TRUE COPY OF THE NOTICE DATED 14.10.2019 EXHIBIT P5: TRUE COPY OF THE STAY PETITION DATED 15.10.2019 EXHIBIT P6:TRUE COPY OF THE JUDGMENT IN WP(C).NO.25262/2016 EXHIBIT P7: TRUE COPY OF THE RELEVANT PORTION OF THE AUDITED BALANCESHEET RESPONDENTS EXHIBITS:NIL //TRUE COPY// P.A TO JUDGE