Wp(C)/7352/2012 Of Poonjar Service Co-Operative Bank Limited v. The Income Tax Officer

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE T.R.RAMACHANDRAN NAIR FRIDAY, THE 23RD DAY OF MARCH 2012/3RD CHAITHRA 1934 WP(C).No. 7352 of 2012 (T) -------------------------- PETITIONER(S): ------------------------ POONJAR SERVICE CO-OPERATIVE BANK LIMITED., REG. NO.3963, POONJAR, KOTTAYAM DISTRICT, PIN-686 681, REPRESENTED BY ITS SECRETARY, CHINNAMMA GEORGE. BY ADV. SRI.R.MURALIDHARAN (AROOR) RESPONDENT(S): ---------------------------- 1. THE INCOME TAX OFFICER, WARD III, KOTTAYAM, PIN. 686 001. 2. THE COMMISSIONER OF INCOME TAX (APPEALS), ERNAKULAM SOUTH, COCHIN, PIN-682 011. R1 & R2 BY ADV.SRI.JOSE JOSEPH, SC,INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23-03-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.7352/2012 T APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1: TRUE COPY OF THE ORDER PASSED UNDER S. 143(3) BY THE 1ST RESPONDENT, DT. 30.12.2011. EXHIBIT P2: TRUE COPY OF THE APPEAL FILED BEFORE THE 2ND RESPONDENT BY THE PETITIONER, DATED 25.01.2012. EXHIBIT P3: TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 15.03.2012. RESPONDENTS' EXHIBITS: N I L /TRUE COPY/ P.S.TO JUDGE T.R. Ramachandran Nair, J. - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C) No. 7352 of 2012 - - - - -- - - - - - - - - - - - - - - - - - - - - Dated this the 23rd day of March, 2012 JUDGMENT The petitioner is a primary agricultural co-operative credit society anassessee under the Income Tax Act. The petitioner is served with Ext.P1assessment order fixing the assessable income at Rs.3,13,57,700/- and theamount demanded is Rs.1,46,25,520/-. It is the case of the petitioner thatthe petitioner is a primary co-operative society and therefore is not a co-operative bank as defined under Part V of the Banking Regulation Act,1949. 2. Ext.P2 is the appeal filed by the petitioner along with a staypetition, Ext.P3 and in the meanwhile, it is stated that, demands are beingmade by the department for recovery of the amount demanded as per Ext.P1. 3. There will be a direction to the second respondent to take adecision on the stay petition, Ext.P3, within a period of one month from thedate of receipt of a copy of this judgment and the proceedings for recoverywill be kept in abeyance till orders are passed on the stay petition. The writ petition is disposed of as above. No costs. The petitioner WPC.7352/2012 will forward a certified copy of this judgment along with a copy of the writ petition before the second respondent for compliance. (T.R. Ramachandran Nair, Judge.) kav/