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IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE BASANT BALAJI FRIDAY, THE 29TH DAY OF OCTOBER 2021 / 7TH KARTHIKA, 1943 ITA NO. 3 OF 2019 AGAINST THE ORDER IN ITA 180/2015 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: THE KARARINAKAM SERVICE CO-OPERATIVE BANK LTD., KURUVA, KADALAYI (P.O.,), KANNUR 670 007 BY ADVS. S.ARUN RAJ SMT.C.T.SUJA RESPONDENT/S: COMMISSIONER OF INCOME TAX, CALICUT 673 001. OTHER PRESENT: SC CHRISTOPHER ABRAHAM THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 29.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
I.T.A. No.3/2019 -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.180/Coch/2015. The subject matter of the appeal relates to the assessment year 2010-11. 3. 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. v. Commissioner of Income Tax1 and the appeal could be allowed by following the said judgment. 1 [2021] 431 ITR 1 (SC)
I.T.A. No.3/2019 -3- 4. The statement is placed on record. Accordingly, the Income Tax appeal is allowed by following the judgment of Supreme Court in Mavilayi Service Co-operative Bank Ltd. (supra). Sd/- S.V.BHATTI JUDGE Sd/- BASANT BALAJI JUDGE jjj
I.T.A. No.3/2019 -4- APPENDIX OF ITA 3/2019 PETITIONER ANNEXURE ANNEXURE A TRUE COPY OF THE ASSESSMENT ORDER DATED 28.3.2013 PASSED UNDER SECTION 143 (3) OF THE ACT FOR THE AY 2010-11 ANNEXURE B TRUE COPY OF THE ORDER DATED 3.12.2014 PASSED BY THE COMMISSIONER OF INCOME TAX APPEALS KOZHIKODE ANNEXURE C TRUE COPY OF THE COMMON ORDER DATED 2.11.2016 PASSED BY THE HONBLE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, COCHIN FOR THE AY 2010-11