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

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ITA/64/2019HC KeralaKLHC01006767201922 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 precedents set by the Supreme Court in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax and this Court in Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax.

What were the facts?

The appeal was filed by the Principal Commissioner of Income-Tax against an order of the Income Tax Appellate Tribunal for the Assessment Year 2014-15. The parties agreed that the issues were covered by Supreme Court and High Court judgments.

What were the issues?

The appeal concerned issues that were substantially covered by existing Supreme Court and High Court judgments concerning co-operative banks.

Which sections of the Income-tax Act were involved?

Not specified

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. 64 OF 2019 AGAINST THE ORDER/JUDGMENT IN ITA 234/2018 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 LTD., THIRUVANANTHAPURAM, PIN-695001. BY ADVS. SRI.T.R.HARIKUMAR SRI.ARJUN RAGHAVAN THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 22.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA NO. 64 OF 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.234/Coch/2018. The subject matter of the appeal relates to the Assessment Year 2014-15. 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 this Court in Chirakkal Service Co-operative Bank Ltd v. Commissioner of Income Tax2 and the appeal be disposed of by following the said judgments. 1 [2021] 431 ITR 1 (SC) 2 (2016) 384 ITR 490 (Ker.)

ITA NO. 64 OF 2019 -3- 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 JS

ITA NO. 64 OF 2019 -4- APPENDIX APPELLANT'S ANNEXURES: ANNEXURE A TRUE COPY OF THE ORDER U/S 143(3) OF THE INCOME TAX ACT, 1961 OF THE ASSESSING OFFICER DATED 27.12.2016. ANNEXURE B TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS), TRIVANDRUM DATED 26.03.2018. ANNEXURE C TRUE COPY OF THE ORDER OF THE ITAT IN ITANO.234/COCH/2018, FOR THE ASST. YEAR 2014- 15 DATED 03.09.2018.

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