Wp(C)/8686/2020 Of The Mithirmala Service Co-Operative Bank Ltd v. The Income Tax Officer, Ward-2 (3)

IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR.JUSTICE N.NAGARESHFRIDAY, THE 24TH DAY OF APRIL 2020 / 4TH VAISAKHA, 1942 WP(C) NO. 8686 OF 2020 Petitioner:- The Mithirmala Service Co-operative Bank Ltd. No.2452,Represented by its Secretary, Mithirmala P.O.,Thiruvananthapuram District-695 610. By Advs. Sri. T.R.HarikumarSri. Arjun Raghavan -Respondents : Standing Counsel Sri. Christopher Abraham, Income Tax This writ petition having come up for admission on 24.04.2020, the court on the same day passed the following: JUDGMENT ~ ~ ~ ~ ~ ~ Dated this the 24[th] day of April, 2020 Standing Counsel for Income Tax takes notice forrespondents 1 to 3. 2.Petitioner is an income tax assessee. Theassessment year in question is 2017-'18. By Ext.P1, the 1[st]respondent disallowed petitioner's claim for deduction underSection 80-P of the Income Tax Act and demanded₹2,07,33,884/- as tax. The petitioner filed Ext.P3 appealcontending that reasoning given in Ext.P1 is untenable.Pending the appeal, the 1[st] respondent initiated coerciveproceedings. 3.Heard learned counsel for the petitioner andlearned Standing Counsel for Income Tax. 4.If the respondents proceed with coercive stepspending consideration of statutory appeal, the statutory WPC.8686/2020 : 3 : remedy available to the petitioner will be negated and thepetitioner is likely to be put to difficulties. In the circumstances, the writ petition is disposed of directing the respondents not to proceed with coercivesteps against the petitioner pending disposal of Ext.P3appeal. Ext.P3 appeal shall be considered and disposed ofby the 2[nd] respondent within a period of six months, withoutinsisting on payment of 20% of the demanded tax. Sd/- N. NAGARESH, JUDGE aks/24.04.2020 Appendix Petitioner’s Exhibits: Exhibit-P1A true copy of the assessment order for the year 2017-2018 dated 12-12-2019. dated 12-12-2019. Exhibit-P2A true copy of the notice issued under Section 156 of the Income Tax Act dated 12-12-2019. Income Tax Act dated 12-12-2019. Exhibit-P3A true copy of the online appeal dated 10-01-2020, filed against Ext-P1 assessment order, before the 2[nd ]respondent. against Ext-P1 assessment order, before the 2[nd ]respondent. Exhibit-P4A true copy of the stay petition filed by the petitioner in Ext-P3 appeal dated 20-01-2020. appeal dated 20-01-2020. Exhibit-P5A true copy of the judgment dated 19-07-2019 in W.A No.1639 of 2019. No.1639 of 2019. Exhibit-P6 A true copy of the judgment dated 17-02-2020 in WP(C) No.4433 of 2020.