THE PRINCIPAL COMMISSIONER OF INCOMR TAX, vs. THE PATTIKKAD SERVICE CO OPERATIVE BANK LTD.,

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ITA/240/2019HC KeralaKLHC01055408201906 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 held that the questions raised in the appeal are substantially covered by the judgments of the Supreme Court in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. Consequently, the Income Tax Appeal was dismissed following these precedents. The questions were answered accordingly. No specific amount in dispute was mentioned, and no issue was left undecided.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax, Kozhikode, against an order dated February 20, 2019, passed by the Income Tax Appellate Tribunal, Cochin Bench, in I.T.A No.591/Coch/2018. The assessment year in question is 2014-15. The assessee is The Pattikkad Service Co Operative Bank Ltd., Perinthalmanna, Malappuram. The revenue contended that the issues raised in the appeal were covered by Supreme Court judgments in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. The High Court was informed that the appeal could be dismissed based on these precedents.

What were the issues?

1. Whether the questions raised in the appeal are substantially covered by the judgment of the Supreme Court in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another and Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. Assessee's contentions: Not recorded. Revenue's contentions: The revenue argued that the issues in the 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.

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 VIJU ABRAHAM MONDAY, THE 6TH DAY OF SEPTEMBER 2021 / 15TH BHADRA, 1943 ITA NO. 240 OF 2019 AGAINST THE ORDER/JUDGMENT IN ITA 591/2018 OF INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, COCHIN APPELLANT/APPELLANT/RESPONDENT/REVENUE: THE PRINCIPAL COMMISSIONER OF INCOMR TAX, KOZHIKODE. BY ADV CHRISTOPHER ABRAHAM RESPONDENT/RESPONDENT/APPELLANT/ASSESSEE: THE PATTIKKAD SERVICE CO OPERATIVE BANK LTD., PERINTHALMANNA, MALAPPURAM. BY ADV SRI.O.D.SIVADAS THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 06.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO. 240 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 20.02.2019 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.591/Coch/2018. The subject matter of the appeal relates to the assessment year 2014-15. 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. 240 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. 240 OF 2019 -4- APPENDIX APPELLANT'S ANNEXURES: ANNEXURE A TRUE COPY OF THE ASSESSMENT ORDER DATED 24/12/2016. ANNEXURE B TRUE COPY OF THE APPELLATE ORDER DATED 12/09/2018 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS). ANNEXURE C CERTIFIED COPY OF THE ORDER DATED 20/02/2019 PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL.

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