THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S MULLAKKODI CO-OPERATIVE RURAL BANK LTD

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ITA/116/2016HC KeralaKLHC01026915201608 November 2016Bench: HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN,HONOURABLE MR.JUSTICE THOTTATHIL B.RADHAKRISHNAN3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the issues raised in the present income tax appeal are covered by its previous judgment in Chirakkal Service Co-operative Bank Limited & Others v. Commissioner of Income Tax, [(2016) 286 CTR Reports 439]. Consequently, the appeal filed by the Revenue was dismissed. The reasoning is that since the present case's issues are identical to those decided in the cited precedent, the outcome must be the same. 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. No specific operative directions were given as the appeal was dismissed.

What were the facts?

The Revenue, Principal Commissioner of Income Tax, Kozhikode, has filed an appeal against the order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated May 24, 2016. The appeal pertains to Assessment Year 2010-11. The assessee is M/s Mullakkodi Co-operative Rural Bank Ltd. The ITAT's order was passed in appeal against the order of the Commissioner of Income Tax (Appeals) dated September 30, 2014, which in turn was against the assessment order dated March 29, 2013. The High Court is considering the appeal filed by the Revenue.

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 & Others v. Commissioner of Income Tax, [(2016) 286 CTR Reports 439]. Contentions: Assessee: Not recorded in the judgment. Revenue: The Revenue contends that the issues raised in the present appeal are covered by the aforementioned judgment of this 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 TUESDAY, THE 8TH DAY OF NOVEMBER 2016/17TH KARTHIKA, 1938 ITA.No. 116 of 2016 () ----------------------- AGAINST THE ORDER/JUDGMENT IN ITA 560/COCH/2014 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 24-05-2016 FOR THE ASSESSMENT YEAR 2010-11 APPELLANT(S)/RESPONDENT/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/APPELLANT/ASSESSEE: ------------------------------------------- M/S MULLAKKODI CO-OPERATIVE RURAL BANK LTD., KOLACHERY P.O, KANNUR - 670 003.

THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 08-11-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA116/16 APPENDIX APPELLANT'S EXHIBITS ANNEXURE-A : COPY OF ASSESSMENT ORDER DATED 29.03.2013. ANNEXURE-B : COPY OF APPELLATE ORDER DATED 30.09.2014 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS). ANNEXURE-C : COPY OF ORDER DATED 24.05.2016 PASSED BY THE INCOME TAX APPELLATE TRIBUNAL. //TRUE COPY// PA TO JUDGE. jg-10/11

THOTTATHIL B.RADHAKRISHNAN & DEVAN RAMACHANDRAN, JJ. .................................................................... I.T.A.No.116 of 2016 .................................................................... Dated this the 8th day of November, 2016. J U D G M E N T Thottathil B.Radhakrishnan, J. The issues raised in this income tax appeal are covered by the judgment of this Court in Chirakkal Service Co-operative Bank Limited & Others v. Commissioner of Income Tax, [(2016) 286 CTR Reports 439] as against the Department. Hence, this income tax appeal is dismissed holding that the issues raised are covered by the said judgment. (THOTTATHIL B.RADHAKRISHNAN, JUDGE) (DEVAN RAMACHANDRAN, JUDGE) jg-8/11

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