Wp(C)/32274/2019 Of Varkala Service Co-Operative Bank Ltd v. The Income Tax Officer

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR THURSDAY, THE 28TH DAY OF NOVEMBER 2019 / 7TH AGRAHAYANA, 1941 WP(C).No.32274 OF 2019(H) PETITIONER: VARKALA SERVICE CO-OPERATIVE BANK LTD.NO.161REPRESENTED BY ITS SECRETARY - IN- CHARGE VARKALA, P.O. CHIRAYINKEEZHU, THIRUVANANTHAPURAM DISTRICT 695 141. BY ADVS.SRI.T.R.HARIKUMARSRI.ARJUN RAGHAVAN RESPONDENTS: 1THE INCOME TAX OFFICERWARD -2 (5), OFFICE OF THE ADDITIONAL COMMISSIONER OF INCOME TAX, AAYAKAR BHAVAN, KAWDIAR P.O. THIRUVANANTHAPURAM 695 003.WARD -2 (5), OFFICE OF THE ADDITIONAL COMMISSIONER OF INCOME TAX, AAYAKAR BHAVAN, KAWDIAR P.O. THIRUVANANTHAPURAM 695 003.2THE COMMISSIONER OF INCOME TAX(APPEALS), AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM 695 003.(APPEALS), AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM 695 003.3THE REGISTRAR,INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, KENDRIYA BHAVAN, BLOCK NO. C1 AND C2, 1ST FLOOR, KAKKANAD, COCHIN 682 030.INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, KENDRIYA BHAVAN, BLOCK NO. C1 AND C2, 1ST FLOOR, KAKKANAD, COCHIN 682 030. BY ADV.SRI. CHRISTOPHER ABRAHAM,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.11.2019,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT Against Ext.P3 rectified order under the Income Tax Act, thepetitioner has preferred Ext.P4 appeal together with Ext.P5 stay petitionbefore the 3[rd] respondent. It is the case of the petitioner that even priorto considering the stay petition, recovery steps are taken by therespondents against the petitioner for recovery of the amountsconfirmed by Ext.P3 rectified order. It is stated by the learned counselfor the petitioner that the issue involved in the appeal pertains to dis-allowance of deduction claimed under Section 80P of the Income TaxAct. 2. I have heard the learned counsel appearing for the petitionerand also the learned Standing counsel appearing for the respondents. On a consideration of the facts and circumstances of the case asalso the submissions made across the Bar and taking note of the fact thatin similar matters, this Court has directed the Appellate Authority toconsider and pass orders in the appeal and stayed the recovery ofdisputed amounts pending disposal of the appeal, this Writ petition isdisposed directing the 3[rd] respondent to consider and pass orders onExt.P4 appeal within an outer time limit of six months. Recovery steps WP(C).No.32274 OF 2019(H) pursuant for recovery of amounts confirmed against the petitioner shallbe kept in abeyance till such time as orders are passed by the 3[rd]respondent as directed above and communicated to the petitioner. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE mns PETITIONER'S/S EXHIBITS: APPENDIX EXHIBIT P1 A TRUE COPY OF THE ASSESSMENT ORDER FOR THE YEAR 2012-2013 DATED 23.03.2015. EXHIBIT P2A TRUE COPY OF THE ORDER DATED 22.3.2018 IN ITA NO.19/TVM/TVM/CIT(A), TVM/2014-17 OF THE 2ND RESPONDENT. EXHIBIT P3A TRUE COPY OF THE ORDER DATED 15.10.2019 IN ITA NO.19/TVM/CIT(A)/TVM/2015-16, ISSUED BY THE 2ND RESPONDENT UNDER SECTION 154 OF THE INCOME TAX ACT. EXHIBIT P4A TRUE COPY OF THE APPEAL MEMORANDUM ALONG WITH AFFIDAVIT DATED 11.11.2019 AND CHELAN. EXHIBIT P5A TRUE COPY OF THE STAY PETITION FILED ALONG WITH EXT.P4 APPEAL DATED 11.11.2019. RESPONDENTS EXHIBITS:NIL //TRUE COPY// P.A TO JUDGE