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

ITA/130/2016HC KeralaKLHC01026929201624 November 2016Author: HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN,HONOURABLE MR.JUSTICE THOTTATHIL B.RADHAKRISHNAN3 pages
AI SummaryDismissed

What were the facts?

This appeal concerns Assessment Year 2009-10. The assessee is M/s. The Eramala Service Co-operative Bank Ltd., Vadakara, Kozhikode. The Revenue is represented by the Principal Commissioner of Income Tax, Kozhikode. The order under challenge is the order dated 08.06.2016 passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench. The procedural history involves an assessment order dated 23.01.2014 and a revision order dated 27.11.2015 passed by the Commissioner of Income Tax under Section 263. The appeal was filed by the Revenue against the ITAT's order.

What did the High Court hold?

The High Court held that the issues raised in the income tax appeal are covered by its previous judgment in Chirakkal Service Co-operative Bank Limited v. Commissioner of Income Tax, [(2016) 384 ITR 490 (Ker)] as against the Department. Consequently, the appeal filed by the Revenue was dismissed. The reasoning is that since the present issues are identical to those decided in the cited precedent, the appeal lacks merit. The ratio decidendi is that if a legal issue has been authoritatively decided by a higher court, subsequent appeals on the same issue should follow that precedent. The operative direction is the dismissal of the appeal.

What were the issues?

1. Whether the issues raised in this 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. The Revenue contended that the issues are covered by the aforementioned judgment. The assessee's contentions are not recorded in the judgment. The ITAT's order dated 08.06.2016 is the subject matter of the appeal.

Which sections of the Income-tax Act were involved?

Section 263

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 THUR AY, THE 24TH DAY OF NOVEMBER 2016/3RD AGRAHAYANA, 1938 ITA.No. 130 of 2016 () ----------------------- AGAINST THE ORDER/JUDGMENT IN ITA 34/COCH/2016 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 08-06-2016, FOR THE ASSESSMENT YEAR 2009-10 APPELLANT(S)/RESPONDENT/REVENUE: ------------------------------- THE PRINCIPAL COMMISSIONER OF INCOME TAX, KOZHIKODE

BY ADVS.SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT SRI.K.M.V.PANDALAI, INCOME TAX DEPARTMENT RESPONDENT(S)/APPELLANT/ASSESSEE: --------------------------------- M/S. THE ERAMALA SERVICE CO-OPERATIVE BANK LTD., VADAKARA, KOZHIKODE.

THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 24-11-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO.130/16 APPENDIX APPELLANT'S ANNEXURES ANNEXURE-A : COPY OF ASSESSEMNT ORDER DATED 23.01.2014. ANNEXURE-B : COPY OF 263 ORDER DATED 27.11.2015 PASSED BY THE COMMISSIONER OF INCOME TAX. ANNEXURE-C : COPY OF ORDER DATED 08.06.2016 PASSED BY THE INCOME TAX APPELLATE TRIBUNAL. //// PA TO J

The order continues below.

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