THE MAYYIL SERVICE CO-OPERATIVE BANK LTD. vs. COMMISSIONER OF INCOME TAX

PDF · subscribers
ITA/76/2017HC KeralaKLHC01026152201725 August 2021Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM4 pages
AI SummaryAllowed

What did the High Court hold?

The High Court allowed the appeal, following the Supreme Court judgments in Mavilayi Service Co-operative Bank Ltd. and Chirakkal Service Co-operative Bank Ltd. These judgments likely dealt with the tax treatment of co-operative banks.

What were the facts?

The appeal was filed against an order of the Income Tax Appellate Tribunal for the assessment year 2008-09. The parties agreed that the issues were covered by Supreme Court judgments.

What were the issues?

The core issue was whether the tax treatment applied to the co-operative bank was in line with established Supreme Court precedents concerning similar entities.

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

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. 76 OF 2017 AGAINST THE ORDER/JUDGMENT IN ITA 562/2014 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/APPELLANT/ASSESSEE: THE MAYYIL SERVICE CO-OPERATIVE BANK LTD. MAYYIL, KANNUR- 670 006 REP. BY ITS SECRETARY C.RAJAN BY ADVS. SRI.S.ARUN RAJ SRI.FIROZE B. ANDHYARUJINA SR SMT.C.T.SUJA RESPONDENT/RESPONDENT/REVENUE: COMMISSIONER OF INCOME TAX CALICUT- 673 001 THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 25.08.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO. 76 OF 2017 - 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 02.11.2015 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.562/Coch/2014. The subject matter of the appeal relates to the assessment year 2008-09. 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. 76 OF 2017 - 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. 76 OF 2017 - 4 - APPENDIX OF ITA 76/2017 PETITIONER ANNEXURE ANNEXURE A TRUE COPY OF THE ASSESSMENT ORDER DATED 28.03.2013 PASSED UNDER SECTION 143(3) R.WS 147 OF THE ACT FOR THE AY 2008-09. ANNEXURE B TRUE COPY OF THE ORDER DATED 30.09.2014 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS), KOZHIKODE FOR THE AY 2008 - 09. ANNEXURE C TRUE COPY OF THE ORDER DATED 02.11.2015 PASSED BY THE HON'BLE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, COCHIN FOR THE AY 2008 - 09.

Recent GST High Court judgments

Search GST case law →