Wp(C)/33333/2015 Of Perinthalmanna 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 TUESDAY, THE 3RD DAY OF NOVEMBER 2015/12TH KARTHIKA, 1937 WP(C).No. 33333 of 2015 (N) ---------------------------------------- PETITIONER(S): ----------------------- 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 ANAND SRI.M.N.RADHAKRISHNA MENON SRI.JOSEPH SEBASTIAN (PARACKAL) RESPONDENT(S):-------------------------- 1. THE INCOME TAX OFFICER, WARD 4, OFFICE OF THE ASSISTANT COMMISSIONER OF INCOME TAX, TARIFF BAZAR, TOWN HALL ROAD, TIRUR - 676 101. 2. THE COMMISSIONER OF INCOME TAX (APPEALS), AAYAKAR BHAVAN, MANANCHIRA, KOZHIKODE - 673 001. AAYAKAR BHAVAN, MANANCHIRA, KOZHIKODE - 673 001. BY ADV. SRI.K.M.V.PANDALAI, INCOME TAX DEPARTMENT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03-11-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 33333 of 2015 (N) ---------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS: -------------------------------------- EXT.P1: TRUE COPY OF ASSESSMENT ORDER FOR ASSESSMENT YEAR 2009-10. EXT.P2: TRUE COPY OF ASSESSMENT ORDER FOR ASSESSMENT YEAR 2011-12. EXT.P3: TRUE COPY OF ASSESSMENT ORDER FOR ASSESSMENT YEAR 2012-13. EXT.P4: TRUE COPY OF THE APPEAL MEMORANDUM ALONG WITH THE APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2009-10. APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2009-10. EXT.P5: TRUE COPY OF THE APPEAL MEMORANDUM ALONG WITH THE APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2011-12. APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2011-12. EXT.P6: TRUE COPY OF THE APPEAL MEMORANDUM ALONG WITH THE APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2012-13. APPLICATIONS FOR STAY FOR THE ASSESSMENT YEAR 2012-13. EXT.P7; TRUE COPY OF COMMON ORDER DTD.22.9.2015. EXT.P8: TRUE COPY OF THE ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, COCHIN. TRIBUNAL, COCHIN. RESPONDENT(S)' EXHIBITS: ----------------------------------------- NIL //TRUE COPY// P.S.TO JUDGE A.K.JAYASANKARAN NAMBIAR, J. .............................................................W.P.(C).No.33333 of 2015 .............................................................Dated this the 3[rd] day of November, 2015 J U D G M E N T The challenge in the writ petition is against Ext.P8 orderpassed by the 2[nd] respondent, in stay applications preferred by thepetitioner along with appeals filed against assessment orders underthe Income Tax Act, where amounts were confirmed against thepetitioner by disallowing deductions under Section 80 P of theIncome Tax Act. In Ext.P8 stay order, the 2[nd] respondent has, aftertaking note of the fact that as against the confirmed demand ofRs.12,01,86,060/- relating to assessment years 2009-2010, 2011-2012 and 2012-2013, the petitioner had already paid an amount ofRs.1,09,86,061/-, directed the petitioner to pay a further amount ofRs.4,91,06,969/- in six equal monthly instalments with the firstinstalment of Rs.81,84,495/- to be paid on or before 15.10.2015. Itis the submission of the learned Senior counsel for the petitionerthat the petitioner has already complied with the requirement ofpaying Rs.81,84,495/- on or before 15.10.2015 pursuant to Ext.P8order of the 2[nd] respondent. The prayer in the writ petition isessentially for a stay of the direction to remit the balance amountsin five equal monthly instalments in view of the fact that the incometax appeals, preferred by other assessees against orders of theappellate Tribunal confirming demands similar to what was confirmed against the petitioner, are pending consideration beforethis Court and in those appeals this Court has granted a stay ofrecovery of amounts pending disposal of the appeals. 2. I have heard the learned counsel for the petitioner andalso the learned Standing counsel for the respondents. 3. On a consideration of the facts and circumstances of thecase as also the submissions made across the bar and taking noteof the fact that in identical matters this Court has granted a staypending disposal of the income tax appeals, I modify the directionsin Ext.P8 conditional order of stay granted by the 2[nd] respondent bymaking it clear that, insofar as the petitioner had already paid anamount of Rs.1,09,86,061/- and also the 1[st] instalment ofRs.81,84,495/- as mentioned in Ext.P8 order, the petitioner will notbe required to make any further payment in the matter pendingdisposal of the appeal by the 2[nd] respondent. There will be a furtherdirection to the 2[nd] respondent to consider and pass orders in theappeals within a period of three months from the date of receipt ofa copy of this judgment, after hearing the petitioner. The recoverysteps for recovery of amounts from the petitioner pursuant toExt.P1 to P3 assessment orders shall be kept in abeyance till suchtime as orders are passed by the 2[nd] respondent as directed and W.P.(C).No.33333 of 2015 communicated to the petitioner. The petitioner shall produce acopy of this judgment along with a copy of this writ petition beforethe 2[nd] respondent for further action. A.K.JAYASANKARAN NAMBIAR JUDGE mns/03.11.15