THE MAVILAYI SERVICE CO-OPERTIVE BANK LTD vs. THE COMMISSIONER OF INCOME TAX, CALICUT

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE VIJU ABRAHAM WEDNESDAY, THE 25TH DAY OF AUGUST 2021 / 3RD BHADRA, 1943 ITA NO. 97 OF 2016 AGAINST THE ORDER/JUDGMENT IN ITA 255/2012 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/APPELLANT/ASSESSEE: THE MAVILAYI SERVICE CO-OPERTIVE BANK LTD MOONAMPALAM, MAVILAYIL P.O.,KANNUR DIST. - 670 622. BY ADVS. SRI.S.ARUN RAJ SRI.FIROZE B. ANDHYARUJINA SR SMT.C.T.SUJA RESPONDENT/RESPONDENT/ REVENUE: THE COMMISSIONER OF INCOME TAX, CALICUT SC CHRISTOPHER ABRAHAM THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 25.08.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO. 97 OF 2016 -2- J U D G M E N T S.V.Bhatti,J. Heard Adv.Arun Raj S. and learned Standing Counsel Mr.Christopher Abraham for parties. 2. Appeal is filed against the order dated 31.01.2013 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.255/Coch/2012. The subject matter of the appeal relates to the assessment year 2009-10. The learned counsel appearing for parties state 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 allowed by following the said 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

ITA NO. 97 OF 2016 -3- judgments. The statement is placed on record. Accordingly, the Income Tax appeal is allowed by following the judgments in Mavilayi Service Co-operative Bank and Chirakkal Service Co-operative Bank (supra). Sd/- S.V.BHATTI JUDGE Sd/- VIJU ABRAHAM JUDGE JS

ITA NO. 97 OF 2016 -4- APPENDIX PETITIONER'S ANNEXURES: ANNEXURE A TRUE COPY OF THE ASSESSMENT ORDER DATED 19.12.11 FOR THE AY 2009-10. ANNEXURE B TRUE COPY OF THE ORDER DATED 21.8.2012 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)- II, KOZHIKODE FOR THE AY 2009-10. ANNEXURE C TRUE COPY OF THE ORDER DATED 31.1.2013 PASSED BY THE HON'BLE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, COCHIN FOR THE AY 2009-10.