The Mundur Service Co-Operative Bank Ltd. v. The Income-tax Officer Ward 2, Palakkad / The Commissioner of Income-tax (Appeals), Thrissur / The Income-tax Appellate Tribunal, Kochi
|The Mundur Service Co-Operative Bank Ltd.
|The Income-tax Officer Ward 2, Palakkad / The Commissioner of Income-tax (Appeals), Thrissur / The Income-tax Appellate Tribunal, Kochi
|HIGH COURT OF KERALA AT ERNAKULAM
|Date of Order
|stay of recovery • stay petition
|No.20053 OF 2020(F) 2 JUDGMENT Against Ext.P1 assessment order under the Income Tax Act, the petitioner preferred an appeal before the First Appellate Authority but the same was rejected by Ext.P2 order. Aggrieved by the said order, the petitioner preferred Ext.P3 appeal along with Ext.P4 stay petition before the 3rd respondent. It is the contention of the learned counsel for the petitioner that the issue involved in the appeal is the permissibility of deduction under Section 80P of the Income Tax Act in its application to Co-Operative Societies. I have heard the learned counsel appearing for the petitioner as also the learned Standing Counsel appearing for the respondents. On a consideration of the facts and circumstances of the case and the submissions made across the Bar and the finding that in similar cases this Court has granted stay of recovery proceedings, pending disposal of the appeal by the appellate authority, I dispose the writ petition by directing the 3rd respondent to consider and pass orders on Ext.P3 appeal preferred by the petitioner within an outer time limit of six months from the date of receipt of a copy of this judgment, after hearing the petitioner. No.20053 OF 2020(F) 3 above and the orders communicated to the petitioner, recovery steps for recovery of amounts confirmed against the petitioner by Exts.P1 and P2 orders shall be kept in abeyance. The petitioner shall produce a copy of this judgment together with a copy of the writ petition before the 3rd respondent for further action.