Wp(C)/9054/2020 Of The Varadiam Service Co-Operative Bank Ltd v. The Commissioner Of Income Tax (Appeals)

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN MONDAY, THE 23RD DAY OF MARCH 2020 / 3RD CHAITHRA, 1942 WP(C).No.9054 OF 2020 PETITIONER: THE VARADIAM SERVICE CO-OPERATIVE BANK LTD. NO.575,AVANOOR, VARADIAM, THRISSUR - 680 541, REPRESENTED BYITS SECRETARY. BY ADV. SRI.P.C.SASIDHARAN RESPONDENTS: 1THE COMMISSIONER OF INCOME TAX (APPEALS),AAYAKAR BHAVAN, S.T.NAGAR, THRISSUR - 68001.AAYAKAR BHAVAN, S.T.NAGAR, THRISSUR - 68001. 2THE INCOME TAX OFFICER, WARD 2 (3), THRISSUR, AAYAKAR BHAVAN, SHAKTHANTHAMPOURAM NAGAR, THRISSUR -680 001. SRI.JOSE JOSEPH, SC, IT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON23.03.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT The writ petition is against the recoveryinitiated while appeal is pending. The issue is alsowith respect to the coverage of the petitioner underSection 80P of the Income Tax Act, 1961, which has tobe adjudicated on the basis of the Full Bench decision-in Mavilayil Service Cooperative Bank Limitedv.Commissioner of Income Tax, Calicut [2019 (2) KHC 287(FB)]. 2. In the present case, the demand is with respectto assessment year 2017-2018. Exhibit P3 appeal andExhibit P4 stay petition are pending before the firstappellate authority. In the circumstance of the case,I am of the opinion that there shall be a stay ofrecovery till the appeal is disposed of. The writ petition is disposed of with the abovedirection, without any observation on the merits ofthe matter. Sd/- K.VINOD CHANDRAN APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1 TRUE COPY OF THE ASSESSMENT ORDER DATED17/12/2019. EXHIBIT P2 TRUE COPY OF DEMAND NOTICE DATED 17/12/2019. EXHIBIT P3 TRUE COPY OF THE APPEAL DATED 15/1/2020. EXHIBIT P4 TRUE COPY OF THE STAY PETITION DATED 15/1/2020. EXHIBIT P5 TRUE COPY OF THE JUDGMENT DATED 1/7/2019 IN W.A.1536 OF 2019.