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

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ITA/170/2019HC KeralaKLHC01095121201806 September 2021Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM4 pages
AI SummaryDismissed

What did the High Court hold?

The High Court of Kerala held that the questions raised in the appeal are substantially covered by the Supreme Court judgment in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and the Kerala High Court judgment in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. The Court accepted the submission of the Revenue's counsel. Accordingly, the Income Tax Appeal was dismissed by following the aforementioned judgments. The questions of law were answered in line with these precedents. No specific issue was left undecided.

What were the facts?

The Revenue, the Principal Commissioner of Income Tax, Kozhikode, filed an appeal before the High Court of Kerala against an order dated July 11, 2018, passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench. The appeal pertains to the assessment year 2013-14. The assessee is The Service Co-operative Bank Ltd., Malappuram. The Revenue's counsel submitted that the issues raised in the appeal are covered by the Supreme Court judgment in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and the Kerala High Court judgment in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. The Revenue proposed that the appeal be dismissed based on these precedents.

What were the issues?

1. Whether the questions raised in the appeal are covered by the Supreme Court judgment in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another and the Kerala High Court judgment in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. Assessee's contentions: Not recorded. Revenue's contentions: The Revenue contended that the issues in the present appeal are substantially covered by the Supreme Court's decision in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and the Kerala High Court's decision in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. Therefore, the appeal should be dismissed following these precedents.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Cochin Bench in I.T.A

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE VIJU ABRAHAM MONDAY, THE 6TH DAY OF SEPTEMBER 2021 / 15TH BHADRA, 1943 ITA NO. 170 OF 2019 AGAINST THE ORDER/JUDGMENT IN ITA 399/2017 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT//RESPONDENT/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/APPELLANT/APPELLANT/ASSESSEE THE SERVICE CO-OPERATIVE BANK LTD ADBURAHIMAN NAGAR, MALAPPURAM THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 06.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO. 170 OF 2019 -2- JUDGMENT S.V.Bhatti,J. Heard learned Standing Counsel Mr.Christopher Abraham for revenue. 2. Appeal is filed against the order dated 11.07.2018 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.399/Coch/2017. The subject matter of the appeal relates to the assessment year 2013-14. The learned counsel appearing for the revenue states that the questions raised in the appeal are substantially covered by the judgment of Supreme Court in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another1 and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax2 and the appeal could be dismissed by following the said judgments. 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

ITA NO. 170 OF 2019 -3- 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/- VIJU ABRAHAM JUDGE JS

ITA NO. 170 OF 2019 -4- APPENDIX APPELLANT'S ANNEXURES: ANNEXURE-A: TRUE COPY OF THE ASSESSMENT ORDER DATED:11.01.2016. ANNEXURE-B: TRUE COPY OF THE APPELLATE ORDER DATED:18.05.2017 PASSED BY THE COMMISSIONER OF INCOME TAX(APPEALS). ANNEXURE-C: TRUE COPY OF THE ORDER DATED:11.07.2018 PASSED BY THE INCOME TAX APPELLATE TRIBUNAL.

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