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

PDF · subscribers
ITA/141/2016HC KeralaKLHC01026940201609 December 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 appeal are covered by its own previous judgment in Chirakkal Service Co-operative Bank Limited v. Commissioner of Income Tax [(2016) 384 ITR 490 (Ker)]. Consequently, the appeal filed by the Revenue was dismissed on this ground. The Court noted the submission by the Revenue's counsel that an SLP against the Chirakkal judgment had been admitted. However, this did not alter the High Court's decision to dismiss the present appeal based on the binding precedent of its own prior ruling. The operative direction was the dismissal of the appeal. No issues were expressly left undecided.

What were the facts?

The appeal is filed by the Principal Commissioner of Income Tax, Thiruvananthapuram, against the order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated May 24, 2016. The assessment year in question is 2007-08. The ITAT's order was in favour of the assessee, Karakulam Service Co-operative Bank Ltd. The procedural history involves an order under Section 143(3) read with Section 147 of the Income Tax Act, 1961, passed by the Assessing Officer, followed by an order of the Commissioner of Income Tax (Appeals), Trivandrum, and finally the impugned order of the ITAT. The amount in dispute is not explicitly stated.

What were the issues?

1. Whether the issues raised in this appeal are covered by the judgment of the High Court of Kerala in Chirakkal Service Co-operative Bank Limited v. Commissioner of Income Tax [(2016) 384 ITR 490 (Ker)]. Assessee's Contentions: The judgment does not record any specific contentions made by the assessee before the High Court. However, the fact that the appeal is dismissed implies the assessee's position was upheld by the ITAT and subsequently by the High Court. Revenue's Contentions: The Revenue, as the appellant, contended that the issues raised in the appeal were not covered by the aforementioned judgment. The Revenue also submitted that a Special Leave Petition (SLP) filed against the Chirakkal Service Co-operative Bank Limited judgment had been admitted by the Supreme Court.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

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 FRIDAY, THE 9TH DAY OF DECEMBER 2016/18TH AGRAHAYANA, 1938 ITA.No. 141 of 2016 () ----------------------- AGAINST THE ORDER/JUDGMENT IN ITA 118/COCH/2016 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 24-05-2016, FOR THE ASSESSMENT YEAR 2007-08 APPELLANT(S)/RESPONDENT/REVENUE: ------------------------------- THE PRINCIPAL COMMISSIONER OF INCOME TAX THIRUVANANTHAPURAM.

BY ADVS.SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT SRI.K.M.V.PANDALAI, INCOME TAX DEPARTMENT RESPONDENT(S)/APPELLANT/ASSESSEE: --------------------------------- KARAKULAM SERVICE CO-OPERATIVE BANK LTD., KARAKULAM P.O., THIRUVANANTHAPURAM, PIN: 695 020.

THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 09-12-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA141/16 APPENDIX APPELLANT'S ANNEXURES ANNEXURE-A : COPY OF ORDER UNDER SECTION 143(3) R.W.S.147 OF THE INCOME TAX ACT, 1961 OF THE ASSESSING OFFICER DATED 04.03.2013. ANNEXURE-B : COPY OF ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS), TRIVANDRUM DATED 18.12.2015. ANNEXURE-C : COPY OF ORDER OF THE ITAT IN ITA NO.118/COCH/2016 FOR THE ASST. YEAR 2007-08 DATED 24.05.2016. //TRUE COPY// PA TO JUDGE. jg-23/12

THOTTATHIL B.RADHAKRISHNAN & DEVAN RAMACHANDRAN, JJ. .................................................................... ITA No.141 of 2016 .................................................................... Dated this the 9th day of December, 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 v. Commissioner of Income Tax, [(2016) 384 ITR 490 (Ker)] as against the Department. Hence, this income tax appeal is dismissed holding that the issues raised are covered by the said judgment. We record the submission of the learned standing counsel for Income Tax Department that the Special Leave Petition filed against the aforesaid judgment has been admitted. (THOTTATHIL B.RADHAKRISHNAN, JUDGE) (DEVAN RAMACHANDRAN, JUDGE) jg-9/12

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →