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

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ITA/79/2019HC KeralaKLHC01006974201922 October 2021Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI4 pages
AI SummaryDismissed

What did the High Court hold?

The High Court dismissed the appeal, following the Supreme Court judgments in Mavilayi Service Co-operative Bank Ltd. and Chirakkal Service Co-operative Bank Ltd. The questions raised in the appeal were answered accordingly.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal concerning the Assessment Year 2013-14. The parties agreed that the issues were covered by Supreme Court judgments.

What were the issues?

The core issue was whether the appeal's questions were covered by existing Supreme Court precedents concerning co-operative banks.

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 BASANT BALAJI FRIDAY, THE 22ND DAY OF OCTOBER 2021 / 30TH ASWINA, 1943 ITA NO. 79 OF 2019 AGAINST THE ORDER IN ITA 233/2018 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: 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: M/S. EDACKODU SERVICE CO-OPERATIVE BANK LIMITED THIRUVANANTHAPURAM BY ADVS. SRI.T.R.HARIKUMAR SRI.ARJUN RAGHAVAN THIS INCOME TAX APPEAL HAVING COME UP FOR HEARING ON 22.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

I T A No.79/2019 -2- J U D G M E N T S.V.Bhatti,J. Heard learned Standing Counsel Mr Christopher Abraham and Adv. Arjun Raghavan, for parties. 2. Appeal is filed against the order dated 03.09.2018 of Income Tax Appellate Tribunal, Cochin Bench in I.T.A No.233/Coch/2018. The subject matter of the appeal relates to the Assessment Year 2013-14. 3. The learned counsel appearing for the parties state that the questions raised in the appeal are substantially covered by the judgments of Supreme Court in Mavilayi Service Co- operative Bank Ltd. v. Commissioner of Income Tax1 and Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax2 and 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

I T A No.79/2019 -3- the appeal be disposed of by following the said judgments. The statement is placed on record. Accordingly, the Income Tax Appeal is dismissed by following the judgments in Mavilayi Service Co-operative Bank and Chirakkal Service Co- operative Bank (supra) and questions are answered accordingly. Sd/- S.V.BHATTI JUDGE Sd/- BASANT BALAJI JUDGE jjj

I T A No.79/2019 -4- APPENDIX OF ITA 79/2019 PETITIONER ANNEXURE ANNEXURE A TRUE COPY OF THE ORDER U/S 14(3) OF THE INCOME TAX ACT 1961 OF THE ASSESSING OFFICER DATED 8.12.2015 ANNEXURE B TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) TRIVANDRUM DATED 26.3.2018 ANNEXURE C TRUE COPY OF THE ORDER OF THE ITAT IN ITA NO 233/COCH/2018 FOR THE ASST YEAR 2013-14 DATED 3.9.2018

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