Wp(C)/30487/2013 Of Perinthalmanna Service Co-Operative Bank Ltd v. The Income Tax Officer, Ward 2, Tirur

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE V.CHITAMBARESH WEDNESDAY, THE 18TH DAY OF DECEMBER 2013/27TH AGRAHAYANA, 1935 WP(C).No. 30487 of 2013 (I) ---------------------------- PETITIONER: -------------------- PERINTHALMANNA SERVICE CO-OPERATIVE BANK LTD., HOSPITAL ROAD, PERINTHALMANNA, MALAPPURAM DISTRICT PIN - 679 322, REPRESENTED BY ITS CHIEF EXECUTIVE BY ADVS.SRI.K.ANAND (SR.) SMT.LATHA KRISHNAN SRI.M.N.RADHAKRISHNA MENON SRI.JOSEPH SEBASTIAN (PARACKAL) RESPONDENTS: ----------------------- 1. THE INCOME TAX OFFICER, WARD 2 OFFICE OF THE ASST. COMMISSIONER OF INCOME TAX TARIFF BAZAR, TOWN HALL ROAD, TIRUR - 676 101. 2. THE COMMISSIONER OF INCOME TAX (APPEALS) KOZHIKODE KOZHIKODE R BY SRI.JOSE JOSEPH, SC, FOR INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18-12-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ---------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT P1 : TRUE COPY OF ASSESSMENT ORDER DATED 20.03.2013 EXHIBIT P2 : TRUE COPY OF APPEAL FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENTRESPONDENT EXHIBIT P3: TRUE COPY STAY PETITION DATED 21.05.2013 EXHIBIT P4 : TRUE COPY OF JUDGMENT IN W.P(C) NO.13989/13 DATED 04.06.2013 EXHIBIT P5 : TRUE COPY OF ORDER DATED 07.08.2013 ISSUED BY THE 2ND RESPONDENTRESPONDENT EXT.P6COPY OF RECTIFICATION PETITION DATED 24-10-2013 RESPONDENT(S)' EXHIBITS --------------------------------------- NIL TRUE COPY SMM P.A TO JUDGE V.CHITAMBARESH,J. = = = = = = = = = = = W.P.(C)No.30487 of 2013 = = = = = = = = = = = == = = = = Dated this the 18[th] day of December, 2013 J U D G M E N T Ext.P5 conditional order passed on Ext.P3 petition for stayaccompanying Ext.P2 appeal filed against Ext.P1 order ofassessment is impugned. Ext.P5 order inter alia directs thepetitioner to deposit the whole amount of Rs.3,03,75,450/- dueunder Ext.P1 order ofcourse in instalments. 2. A detailed consideration of the merits of the case at thisjuncture would prejudice the contentions of either parties in thestatutory appeal pending. Suffice it to say that the conditionimposed in Ext.P5 order is not so unreasonable or illegal in thefacts and circumstances of the case. 3. I however modify Ext.P5 interim order by permitting thepetitioner to deposit a sum of Rs.90 lakhs as a condition for stayof recovery of the amounts due under Ext.P1 order. Thepetitioner has reportedly remitted Rs.30 lakhs on 31-10-2013and it would suffice if he remits the balance 60 lakhs in twoinstalments. 4. The petitioner shall deposit a sum of Rs.30 lakhs on orbefore 31-12-2013 and another sum of Rs.30 lakhs on or before W.P.(C)No.30487 of 2013 28-2-2014. The amount if deposited as above would operate as astay of recovery of the amount due under Ext.P1 order pendingExt.P2 appeal. 5. The coercive steps as against the petitioner can continue if the conditions above are not complied with. The recovery stepsshall be put on hold if the petitioner deposits a total sum of Rs.90lakhs on or before 28-2-2014 as directed. The writ petition is disposed of. V.CHITAMBARESHJUDGE smm