Wp(C)/27609/2019 Of The Punalur Service Co-Operative Bank Limited v. The Income Tax Officer

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR THURSDAY, THE 17TH DAY OF OCTOBER 2019 / 25TH ASWINA, 1941 WP(C).No.27609 OF 2019 PETITIONER: THE PUNALUR SERVICE CO-OPERATIVE BANK LIMITEDREPRESENTED BY ITS SECRETARY, PUNALUR, KOLLAM DISTRICT PIN 691 305 BY ADVS.SRI.T.R.HARIKUMARSRI.ARJUN RAGHAVAN RESPONDENTS: 1THE INCOME TAX OFFICERWARD-2 OFFICE OF THE ADDITIONAL COMMISSIONER OF INCOME TAX, KOLLAM RANGE, AAYAKAR BHAVAN,. KARBALA JUNCTION, KOLLAM PIN 691 001 2THE COMMISSIONER OF INCOME TAX (APPEALS)AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM PIN 695 003 3THE REGISTRAR,INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, KENDRIYABHAVAN, BLOCK NO. C1 AND C2 1ST FLOOR, KAKKANAD, COCHIN 682 030 OTHER PRESENT: SC SRI.CHRISTOPHER ABRAHAM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON17.10.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT Against Ext.P3 rectification order passed by the CIT (Appeals) underthe Income Tax Act for the assessment year 2015-2016, the petitioner haspreferred Ext.P4 appeal and Ext.P5 stay petition before the 3[rd] respondent.Exts.P6, P7 and P8 are the revenue recovery notices issued against thepetitioner. It is the case of the petitioner that even prior to considering thestay petition, recovery steps are taken by the respondents against thepetitioner for recovery of the amounts confirmed by Ext.P1 assessmentorder. 2.I have heard Sri.T.R.Harikumar, the learned counsel appearing for thepetitioner and Sri.Christopher Abraham, the learned Standing Counsel forthe respondents. 3.On a consideration of the facts and circumstances of the case as alsothe submissions made across the Bar, I dispose the writ petition with thefollowing directions: 1. The 3[rd] respondent shall consider and pass reasonedorders on Ext.P5 stay petition within a period of two monthsfrom the date of receipt of a copy of this judgment, afterhearing the petitioner. 2. Recovery steps pursuant to Exts.P6, P7 and P8 revenuerecovery notices for recovery of amounts confirmed againstthe petitioner by Ext.P1 assessment order shall be kept inabeyance till such time as orders are passed by the 3[rd] okb respondent as directed above and communicated to thepetitioner. 3. The petitioner shall produce a copy of the writ petition together with a copy of this judgment, before the 3[rd] respondent, for further action. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE //True copy// P.S. to Judge APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1A TRUE COPY OF THE ASSESSMENT ORDER FOR THEYEAR 2015-2016 DATED 15-12-2017 EXHIBIT P2A TRUE COPY OF THE ORDER DATED 18-12-2018 IN ITA NO. 207/EF/KLM/CIT(A) /TVM/2017-18IN ITA NO. 207/EF/KLM/CIT(A) /TVM/2017-18 EXHIBIT P3A TRUE COPY OF THE ORDER DATED 03-09-2019 IN ITA NO. 207/EF/KLM/CIT(A)/TVM/2017-18 ISSUED BY THE 2ND RESPONDENT UNDER SECTION 154 OF THE INCOME TAX ACTIN ITA NO. 207/EF/KLM/CIT(A)/TVM/2017-18 ISSUED BY THE 2ND RESPONDENT UNDER SECTION 154 OF THE INCOME TAX ACT EXHIBIT P4 A TRUE COPY OF THE APPEAL MEMORANDUM ALONG WITH AFFIDAVIT AND CHELAN DATED 05-10-2019WITH AFFIDAVIT AND CHELAN DATED 05-10-2019 EXHIBIT P5A TRUE COPY OF THE STAY PETITION FILED ALONG WITH EXT P4 APPEAL DATED 05-10-2019ALONG WITH EXT P4 APPEAL DATED 05-10-2019 EXHIBIT P6A TRUE COPY OF THE NOTICE DATED 14-10-2019 ISSUED BY THE 1ST RESPONDENTISSUED BY THE 1ST RESPONDENT EXHIBIT P7A TRUE COPY OF THE NOTICE DATED 14-10-2019,ISSUED SECTION 271 B THE INCOME TAX ACTISSUED SECTION 271 B THE INCOME TAX ACT EXHIBIT P8A TRUE COPY OF THE NOTICE DATED 14-10-2019,ISSUED SECTION 271(1) (C)0 OF THE INCOME TAX ACTISSUED SECTION 271(1) (C)0 OF THE INCOME TAX ACT