THE SULTHAN BATHERY SERVICE CO-OP BANK LTD,WAYANAD vs. THE JCIT RANGE 2, KOZHIKODE

In the result, both the appeals in ITA Nos

Bench: Shri Chandra Poojari & Shri Soundararajan K.

271E of the Income Tax Act, 1961 (in short “The Act”). The assessee also filed stay petitions with SP Nos.105 & ITA Nos.319 & 320/Coch/2023 & SP Nos.105 & 106/Coch/2023 The SulthanBathery Service Co-operative Bank Limited, Wayanad Page 2 of 12 106/Coch/2023 requesting for staying demand of Rs.102,14,54,585/- and Rs.116,57,50,274/- respectively. 2. The assessee has raised following

THE SULTHAN BATHERY SERVICE CO-OP BANK LTD,WAYANAD vs. THE JCIT RANGE 2, KOZHIKODE

In the result, both the appeals in ITA Nos

Bench: Shri Chandra Poojari & Shri Soundararajan K.

271E of the Income Tax Act, 1961 (in short “The Act”). The assessee also filed stay petitions with SP Nos.105 & ITA Nos.319 & 320/Coch/2023 & SP Nos.105 & 106/Coch/2023 The SulthanBathery Service Co-operative Bank Limited, Wayanad Page 2 of 12 106/Coch/2023 requesting for staying demand of Rs.102,14,54,585/- and Rs.116,57,50,274/- respectively. 2. The assessee has raised following

M/S.KARANNUR SERVICE CO-OP BANK LTD,KOZHIKKODE vs. THE ITO, WD-1(2), KOZHIKKODE

In the result, the appeals by the assessee are allowed

Bench: Shri Sanjay Arora & Shri Manomohan Das

271E." This was followed by notice u/s. 274 of the Act by the Jt. CIT, show causing the assessee in the matter, on 28.3.2008. The penalty order was passed by him on 29.7.2008. The issue arising therefore was whether the penalty was initiated on the passing of assessment order on 06.11.2007, or on the issue of notice u/s

THE KARANNUR SERVICE CO-OP BANK LTD ,KOZHIKKODE vs. THE ITO, WD-1(2),, KOZHIKKODE

In the result, the appeals by the assessee are allowed

Bench: Shri Sanjay Arora & Shri Manomohan Das

271E." This was followed by notice u/s. 274 of the Act by the Jt. CIT, show causing the assessee in the matter, on 28.3.2008. The penalty order was passed by him on 29.7.2008. The issue arising therefore was whether the penalty was initiated on the passing of assessment order on 06.11.2007, or on the issue of notice u/s

M/S. THE THIRUNELLY SERVICE CO-OPERATIVE BANK,WAYANAD vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

u/s. 271D, no penalty can be levied placing reliance on the decision of Hon'ble Supreme Court in the case of case of CIT Vs. Jai Laxmi Rice Mills (2015) 379 ITR 521 (SC). 9. On the other hand, ld. CIT-DR placing reliance on the decision of this Tribunal in the case of The Nadapuram Service Co-op. Bank

PANAMARAM SERVICE CO-OPERATIVE BANK LTD,PANAMARAM, WAYANAD vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

u/s. 271D & 271E for the reasons that there were no banks operating in and around Wayanad district. Thus, there was a reasonable cause for accepting deposits from members for repaying the deposits in cash. After Panamaram Service Co-op. Bank Ltd. considering the written submission we proceed to dispose of the appeal after hearing the learned

PANAMARAM SERVICE CO-OPERATIVE BANK LTD,PANAMARAM vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

u/s. 271D & 271E for the reasons that there were no banks operating in and around Wayanad district. Thus, there was a reasonable cause for accepting deposits from members for repaying the deposits in cash. After Panamaram Service Co-op. Bank Ltd. considering the written submission we proceed to dispose of the appeal after hearing the learned

M/S. THE THIRUNELLY CO-OPERATIVE BANKLTD.,WAYANAD vs. JCIT RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

271E of the Act respectively. M/s. Thirunelly Service Co-op. Bank Ltd. 2. Since both the appeals involve identical facts and issues, the appeals were heard together and disposed of vide this common order. 3. For the sake of convenience and clarity, facts relevant to A.Y. 2015-16 in ITA No. 420/Coch/2025 are stated herein. 4. Brief facts