Wp(C)/5985/2014 Of M/S Muthoot Fincorp Ltd v. The Assistant Commissioner Of Income Tax Circle - 1(1)

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 3RD DAY OF MARCH 2014/12TH PHALGUNA, 1935 WP(C).No. 5985 of 2014 (W) --------------------------- PETITIONER(S): ------------------------ M/S. MUTHOOT FINCORP LTD., T C NO 14/2074-7, MUTHOOT CENTRE, PUNNEN ROAD, JACOBS JUNCTION, THIRUVANANTHAPURAM-695 001, REPRESENTED BY ITS DIRECTOR, SHRI.THOMAS GEORGE MUTHOOT. BY SRI.T.M.SREEDHARAN,SENIOR ADVOCATE ADVS.SRI.V.P.NARAYANAN SMT.DIVYA RAVINDRAN RESPONDENT(S): -------------------------- 1. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 1(1), 3RD FLOOR, AAYAKAR BHAVAN, KOWDIAR, THIRUVANANTHAPURAM-695 003. 2. THE COMMISSIONER OF INCOME TAX(APPEALS) AYAKKAR BHAVAN, KAWDIAR, THIRUVANANTHAPURAM-695 003. 3. THE ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, IST FLOOR, (BLOCK C-1 & C-II), KENDRIYA BHAVAN, OPP. CSEZ, KAKKANAD, COCHIN-682 037. R1 TO R3 BY ADV. SRI.JOSE JOSEPH, SC, INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03-03-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WP(C).No. 5985 of 2014 (W) ----------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS: ---------------------------------------- P1:-TRUE COPY OF THE ASSESSENT ORDER DTD 28/3/2013 ALONG WITHDEMAND NOTICE FOR THE ASSESSMENT YEAR 2006-07 PASSED BY THE ISTRESPONDENT. P2:-TRUE COPY OF THE ASSESSMENT ORDER DTD 26/3/2013 ALONG WITHDEMAND NOTICE FOR THE ASSESSMENT YEAR 2006-07 PASSED BY THE ISTRESPONDENT. P3:-TRUE COPY OF ORDER DTD 15/1/2014 IN ITA NO 55/TVM/CIT(A)TVM 13-14FOR THE ASST-YEAR 2006-07 PASSED BY THE 2ND RESPONDENT. P3(A):-TRUE COPY OF ORDER DTD 15/1/2014 IN ITA NO 54/TVM/CIT(A)TVM 13-14FOR THE ASST-YEAR 2007-08 PASSED BY THE 2ND RESPONDENT. P4:-TRUE COPY OF THE MEMORANDUM OF APPEAL FILED BY THE PETITIONERBEFORE THE 3RD RESPONDENT FOR THE YEAR 2006-07. P4(A):-TRUE COPY OF THE MEMORANDUM OF APPEAL FILED BY THEPETITIONER BEFORE THE 3RD RESPONDENT FOR THE YEAR 2007-08. P5:-TRUE COPY OF THE STAY PETITION DTD 22/2/2012 FILED BY THEPETITIONER BEFORE THE 3RD RESPONDENT FOR THE ASST YEAR-2006-07. P5(A):-TRUE COPY OF THE STAY PETITION DTD 22/2/2012 FILED BY THEPETITIONER BEFORE THE 3RD RESPONDENT FO THE ASST.YEAR 2007-08. P6:-TRUE COPY OF THE SHOW CAUSE NOTICE DTD 21/2/2014 ISSUED BY THEIST RESPONDENT. RESPONDENT(S)' EXHIBITS:------------------------------------------ N I L /TRUE COPY/ P.S.TO JUDGE Kss P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C)No.5985 OF 2014 ......................................................................... Dated this the 3[rd] March, 2014 J U D G M E N T Being aggrieved of Exts.P1 and P2 assessment orderspassed by the first respondent/Assistant Commissioner of Income Tax for the period 2006-07 & 2007-08, the petitioner haspreferredstatutoryappealsbeforethesecondrespondent/Commissioner of Income Tax (Appeals), whichhowever did not turn to be fruitful, as borne by Ext.P3 and P3(a)orders. This made the petitioner to approach the thirdrespondent/Income Tax Appellate Tribunal by filing Exts.P4 andP4(a) second appeals along with Ext.P5 and P5(a) petitions forstay. The grievance is only with regard to the coercive stepsbeing pursued in the meanwhile, including by way of Ext.P6,which is sought to be intercepted. 2. Heard the learned Government Pleader as well. 3. After hearing both the sides, the third respondent/ Income Tax Appellate Tribunal is directed to consider and passappropriate orders on Ext.P5 and P5(a) applications for stay, asexpeditiously as possible, at any rate, within a period of sixweeks from the date of receipt of a copy of the judgment. It is 2. Heard the learned Government Pleader as well. 3. After hearing both the sides, the third respondent/ Income Tax Appellate Tribunal is directed to consider and passappropriate orders on Ext.P5 and P5(a) applications for stay, asexpeditiously as possible, at any rate, within a period of sixweeks from the date of receipt of a copy of the judgment. It is W.P.(C)No.5985 OF 2014 made clear that till such orders are passed in Exts.P5 and P5(a)applications for stay, all coercive steps/proceedings shall be keptin abeyance. The writ petition is disposed of. The petitioner shall producea copy of the judgment along with a copy of the writ petitionbefore the third respondent/Income Tax Appellate Tribunal forfurther steps. lk P.R.RAMACHANDRA MENONJUDGE