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

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ITA/264/2019HC KeralaKLHC01053695201906 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 issues 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 made by the Revenue's counsel. Accordingly, the High Court dismissed the Income Tax Appeal by following the aforementioned judgments. The questions before the Tribunal were answered in line with these precedents. No specific amount in dispute was mentioned. No issue was expressly left undecided.

What were the facts?

This Indian ITAT judgment concerns an appeal filed by the Principal Commissioner of Income Tax, Kozhikode (Revenue) against an order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated February 20, 2019. The appeal pertains to the assessment year 2013-14. The assessee is M/s. The Pattikkad Service Co-operative Bank Ltd. The Revenue's counsel informed the High Court that the issues raised in the appeal are substantially covered by the Supreme Court's judgment in Mavilayi Service Co-operative Bank Ltd. and others v. Commissioner of Income Tax and another, and the Kerala High Court's judgment in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax. The High Court took note of this submission.

What were the issues?

1. Whether 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? (Question of law) Assessee's Contention: Not recorded in the judgment. Revenue's Contention: The Revenue argued 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 Revenue submitted that the appeal could be dismissed by following these precedents.

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. 264 OF 2019 AGAINST THE ORDER/JUDGMENT IN ITA 590/2018 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/APPELLANT/RESPONDENT/REVENUE: THE PRINCIPAL COMMISSIONER OF INCOME TAX KOZHIKODE BY ADV SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT RESPONDENT/RESPONDENT/APPELLANT/ASSESSEE: M/S.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. 264 OF 2019 -2- JUDGMENT 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.590/Coch/2018. 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. The statement is placed on record. Accordingly, the 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

ITA NO. 264 OF 2019 -3- 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. 264 OF 2019 -4- APPENDIX APPELLANT'S ANNEXURES: ANNEXURE-A TRUE COPY OF THE ASSESSMENT ORDER DATED 23.02.2016 ANNEXURE-B TRUE COPY OF THE APPELLATE ORDER DATED 12.09.2018 PASSED BY THE COMMISSIONER OF INCOME-TAX (APPEALS) ANNEXURE-C TRUE COPY OF THE ORDER DATED 20.02.2019 PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL

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