OCHANTHURUTH SERVICE CO-OPERATIVE BANK vs. THE INCOME TAX OFFICER

Learned counsel appearing on behalf of the petitioner submitted that petitioner is under imminent threat of revenue recovery proceedings for the assessment years 2012-13, 2017-18 & 2018-19. Petitioner has also preferred a rectification application dated 07.02.2020 and the same is still pending consideration. Reliance in this regard has been laid to the screenshot Ext.P8. He submits that predicament of the petitioner is the result of non consideration of the stay application by the appellate authority pertaining to two assessment years i.e., 2012-13 & 2017-18 and non-consideration of rectification application for the assessment year 2018-

It is seriously contended that the imminent threat of coercive steps cannot be permitted to be ignored.

Learned counsel for the respondent submits that the rectification application against Ext.P6 dated 07.02.2020 is not maintainable as it is a WP(C).No.7478 OF 2020 -4- communication under Section 143(1)(a) and no such assessment. Petitioner is willing to appear before the assessing officer and bring on record material if claiming exemption under Section 80P.

Having heard learned counsel for the parties and appraised the paper books, I am of the view that the petitioner cannot be impasse of non- consideration of the stay applications during the pendency of Exts.P2 & P2(a) appeals, which will seriously prejudice the rights of the petitioner on the fact that declining to grant exemption under Section 80P was not justified. Accordingly, Without expressing anything on the merits of the matter, I dispose of this writ petition with a direction to the 2nd respondent to decide the application for stay along with the appeals Exts.P2 & P2(a) within 45 days from the date of receipt of a certified copy of the judgment and take a decision thereon and with a further