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

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. 135 OF 2016 AGAINST THE ORDER/JUDGMENT IN ITA 340/2012 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/APPELLANT/ASSESSEE: M/S. KODIYERI SERVICE CO-OPERATIVE BANK LTD. KALLILTHAZHA, PARAL, THALASSERRY, KANNUR - 670 671 REPRESENTED BY THE ITS SECRETARY-IN-CHARGE, SMT. K.M. RUKMINI. BY ADVS. SRI.T.M.SREEDHARAN (SR.) SMT.DIVYA RAVINDRAN SRI.V.P.NARAYANAN RESPONDENT/RESPONDENT/REVENUE: THE COMMISSIONER OF INCOME TAX 1ST FLOOR, AAYAKAR BHAVAN, NEW ANNEX BUILDING (NORTH BLOCK), MANANCHIRA, KOZHIKODE - 673 001. 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. 135 OF 2016 -2- J U D G M E N T S.V.Bhatti,J. Heard Adv.V.P. Narayanan and learned Standing Counsel Mr.Christopher Abraham for parties. 2. Appeal is filed against the order dated 22.04.2013 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.340/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. 135 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. 135 OF 2016 -4- APPENDIX OF ITA 135/2016 PETITIONER'S ANNEXURES: ANNEXURE A TRUE COPY OF CERTIFICATE ISSUED BY THE JOINT REGISTRAR (GENERAL), KANNUR DATED 19.12.2008 SHOWING THE CLASSIFICATION OF THE APPELLANT SOCIETY AS A "PRIMARY AGRICULTURAL CREDIT SOCIETY" ANNEXURE B TRUE COPY OF THE ASSESSMENT ORDER DATED 15.12.2011 FOR 2009-10 PASSED BY THE INCOME TAX OFFICER, WARD-2, KANNUR. ANNEXURE C TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, KOZHIKODE ALONG WITH ANNEXURE IN ITA NO.236/KNR/CIT/CLT/2011- 12 DATED 21.09.2012. ANNEXURE C TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, KOZHIKODE, ALONG WITH ANNEXURE IN ITA NO.236/KNR/CIT/CLT/2011- 12 DATED 21.09.2012. ANNEXURE D TRUE COPY OF THE COMMON ORDER OF THE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH IN ITA NO.340/COCH/2010 DATED 22.04.2013.