THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. KAZHAKUTTAM SERVICE CO-OPERATIVE BANK LTD.,

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ITA/108/2019HC KeralaKLHC01021666201922 October 2021Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI4 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the questions raised in the appeal are substantially covered by the Supreme Court judgments in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax. Consequently, the Income Tax Appeal was dismissed by following these precedents. The questions were answered in line with the principles laid down in the cited Supreme Court decisions. No specific findings on the merits of the case were recorded, as the dismissal was based on the applicability of the Supreme Court judgments. The operative direction was to dismiss the appeal.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax, Thiruvananthapuram (Revenue) against an order dated September 19, 2018, passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench. The appeal pertains to the Assessment Year 2014-15 and challenges the ITAT's decision in ITA No. 184/Coch/2018. The assessee is M/s. Kazhakuttam Service Co-operative Bank Ltd. The parties informed the High Court that the issues raised in the appeal are substantially covered by Supreme Court judgments in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax.

What were the issues?

1. Whether the questions raised in the appeal are covered by the judgments of the Supreme Court in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax. Assessee's contention: The assessee did not explicitly present arguments but agreed that the appeal should be disposed of by following the aforementioned Supreme Court judgments. Revenue's contention: The Revenue, through its counsel, stated that the questions raised in the appeal are substantially covered by the judgments of the Supreme Court in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax, and requested the appeal be disposed of accordingly.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE BASANT BALAJI FRIDAY, THE 22ND DAY OF OCTOBER 2021 / 30TH ASWINA, 1943 ITA NO. 108 OF 2019 AGAINST THE ORDER IN ITA 184/2018 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: THE PRINCIPAL COMMISSIONER OF INCOME TAX, REVENUE, THIRUVANANTHAPURAM. BY ADV SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT RESPONDENT/S: M/S.KAZHAKUTTAM SERVICE CO-OPERATIVE BANK LTD., KAZHAKUTTAM, THIRUVANANTHAPURAM-14, , (PAN AAAAK4626R) BY ADVS. SRI.T.R.HARIKUMAR SRI.ARJUN RAGHAVAN THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 22.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA No.108/2019 -2- J U D G M E N T S.V.Bhatti,J. Heard learned Standing Counsel Mr Christopher Abraham and Adv. Arjun Raghavan, for parties. 2. Appeal is filed against the order dated 19.09.2018 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.184/Coch/2018. The subject matter of the appeal relates to the Assessment Year 2014-15. 3. The learned counsel appearing for the parties state that the questions raised in the appeal are substantially covered by the judgments of Supreme Court in Mavilayi Service Co- operative Bank Ltd. v. Commissioner of Income Tax1 and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax2 and 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

ITA No.108/2019 -3- the appeal be disposed of by following the said judgments. The statement is placed on record. Accordingly, the Income Tax Appeal is dismissed by following the judgments in Mavilayi Service Co-operative Bank and Chirakkal Service Co- operative Bank (supra) and questions are answered accordingly. Sd/- S.V.BHATTI JUDGE Sd/- BASANT BALAJI JUDGE jjj

ITA No.108/2019 -4- APPENDIX OF ITA 108/2019 PETITIONER ANNEXURE ANNEXURE A TRUE COPY OF THE ORDER U/S 143(3) OF THE INCOME TAX ACT 1961 OF THE ASSESSING OFFICER DATED 28.12.2016 ANNEXURE B TRUE COPY OF THE ORDER U/S 154 OF THE INCOME TAX ACT OF THE ASSESSING OFFICER DATED 06.07.2017 ANNEXURE C TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS), TRIVANDRUM DATED 05.03.2018 ANNEXURE D CERTIFIED COPY OF THE ORDER OF THE ITAT IN ITA NO 184/COCH/2018 FOR THE ASST YEAR 2014-15 DATED 19.09.2018

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