THE PRINCIPAL COMMISSIONER OF INCOME TAX, KOZHIKODE vs. M/S.THE PERUMANNA KLARI SERVICE CO-OPERATIVE BANK LTD.

ITA/149/2016HC KeralaKLHC01026948201613 December 2016Author: HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN,HONOURABLE MR.JUSTICE THOTTATHIL B.RADHAKRISHNAN3 pages
AI SummaryDismissed

What were the facts?

The Revenue, Principal Commissioner of Income Tax, Kozhikode, is the appellant, and M/s. The Perumanna Klari Service Co-operative Bank Ltd., Malappuram, is the respondent assessee. The appeal is against the order dated 01.06.2016 passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench, for the assessment year 2011-12. The ITAT's order followed the appellate order dated 07.01.2015 passed by the Commissioner of Income-Tax (Appeals) and the assessment order dated 18.02.2014. The High Court is considering the appeal filed by the Revenue against the ITAT's decision.

What did the High Court hold?

The High Court held that the issues raised in the present income tax appeal are covered by its own previous judgment in Chirakkal Service Co-operative Bank Limited v. Commissioner of Income Tax, [(2016) 384 ITR 490 (Ker)]. Consequently, the appeal filed by the Revenue was dismissed on the ground that the issues were covered by the said precedent. The Court also recorded the submission of the Revenue's counsel regarding the admission of an SLP against the Chirakkal Service Co-operative Bank Limited judgment. The ratio decidendi is that if an appeal raises issues already decided by a binding precedent of the High Court, the appeal will be dismissed on that ground. No specific issue was left undecided.

What were the issues?

1. Whether the issues raised in this income tax appeal are covered by the judgment of this Court in Chirakkal Service Co-operative Bank Limited v. Commissioner of Income Tax, [(2016) 384 ITR 490 (Ker)] as against the Department. Assessee's Contention: The judgment does not record any specific contentions made by the assessee. The appeal is being decided based on a precedent. Revenue's Contention: The Revenue, through its learned standing counsel, submitted that a Special Leave Petition (SLP) filed against the aforesaid judgment in Chirakkal Service Co-operative Bank Limited has been admitted. This submission is noted by the Court.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE THOTTATHIL B.RADHAKRISHNAN & THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN TUE AY, THE 13TH DAY OF DECEMBER 2016/22ND AGRAHAYANA, 1938 ITA.No. 149 of 2016 () ----------------------- AGAINST THE ORDER/JUDGMENT IN ITA 205/COCH/2015 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 01.06.2016, FOR THE ASSESSMENT YEAR 2011-12 APPELLANT(S)/RESPONDENT/REVENUE: ------------------------------------------ THE PRINCIPAL COMMISSIONER OF INCOME TAX, KOZHIKODE.

BY ADVS.SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEP SRI.K.M.V.PANDALAI, INCOME TAX DEPARTMENT RESPONDENT(S)/APPELLANT/ASSESSEE: ------------------------------------------- M/S.THE PERUMANNA KLARI SERVICE CO-OPERATIVE BANK LTD., KUTTIPPALA, MALAPPURAM, PIN - 676 101. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 13-12-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA 149/16 APPENDIX APPELLANT'S ANNEXURES ANNEXURE-A : COPY OF ASSESSMENT ORDER DATED 18.02.2014. ANNEXURE-B : COPY OF APPELLATE ORDER DATED 07.01.2015 PASSED BY THE COMMISSIONER OF INCOME-TAX (APPEALS). ANNEXURE-C : COPY OF ORDER DATED 01.06.2016 PASSED BY THE INCOME

The order continues below.

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