Partly allowed

Anand Farmers Service- Co. Operative Bank Ltd. v. Central Board of Direct Taxes (Cbdt)

Kerala HC6 Jun 2018WP(C)/10162/2018

Case brief

AI extract

What is this about?

The Kerala High Court disposed of writ petitions filed by agricultural credit co-operative societies against income tax orders. Following precedents W.P.(C).No.14906 of 2018 and W.P.(C).No.9125 of 2018, the court directed payment of 20% of the tax demand and allowed the appellant to explain cash credits.

What did the court decide?

Directions to pay 20% of the tax demand in six equal monthly instalments within two weeks and to provide opportunity to explain cash credits.

Anand Farmers Service- Co. Operative Bank Ltd. Vs Central Board of… — Income Tax | Kerala HC (2018)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR

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WEDNESDAY, THE 6TH DAY OF JUNE 2018 / 16TH JYAISHTA, 1940

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PETITIONER(S)

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ANAD FARMERS SERVICE- CO OPERATIVE BANK LTD.NO.919, ANAD P.O., NEDUMANGAD, THIRUVANANTHAPURAM-695 544, REPRESENTED BY ITS MANAGING DIRECTOR S.LALIA BEEVI.

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BY ADVS.SRI.THOMAS ABRAHAM DR.K.P.PRADEEP SRI.T.T.BIJU SMT.T.THASMI

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RESPONDENT(S):

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1. CENTRAL BOARD OF DIRECT TAXES (CBDT), DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, SOUTH BLOCK, NEW DELHI-110 001, REPRESENTED BY THE SECRETARY.

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2. THE INCOME TAX OFFICER, WARD-2(3), OFFICE OF THE JOINT COMMISSIONER OF INCOME TAX, 1ST FLOOR, AAYAKAR BHAVAN, KOWDIAR, TRIVANDRUM-695 003.

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3. THE COMMISSIONER OF INCOME TAX(APPEALS), AAYAKAR BHAVAN, KOWDIAR, TRIVANDRUM-695 003.

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BY SRI.CHRISTOPHER ABRAHAM, SC, INCOME TAX DEPARTMENT

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06-06-2018, ALONG WITH W.P.(C) NO.16024/2018 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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DSV/-

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WP(C).No. 10162 of 2018 (U)

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PETITIONER(S)' EXHIBITS

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EXT.P1: TRUE COPY OF THE ASSESSMENT ORDER NO.AAAA5923D DTD.30.12.2016 ISSUED BY THE 2ND RESPONDENT FOR THE AY 2014-15.

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EXT.P2: TRUE COPY OF THE NOTICE OF DEMAND UNDER SECTION 156 OF THE ACT, DTD.30.12.2016, ISSUED BY THE 2ND RESPONDENT.

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EXT.P3: TRUE COPY OF THE MEMORANDUM OF APPEAL DTD.02.02.2017 FILED BEFORE THE 3RD RESPONDENT.

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EXT.P4: TRUE COPY OF THE APPLICATION DTD.27.02.2017 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT REQUESTING GRANT OF STAY OF THE RECOVERY OF THE AMOUNTS AS PER EXT.P2 NOTICE.

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EXT.P5: TRUE COPY OF THE ORDER DTD.1.3.2018 IN ITA NO.311/EF/TVM/CIT (A), TVM/2016-17 ISSUED BY THE 3RD RESPONDENT.

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RESPONDENT (S)' EXHIBITS:

NIL

// TRUE COPY //

P. A. TO JUDGE

DSV/-

P.B.SURESH KUMAR, J.

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= = = = = = = = = = = = = =

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W.P.(C).Nos.10162, 16024, 16039

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& 16097 of 2018.

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= = = = = = = = = = = = = =

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Dated this the 6^th day of June, 2018

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J U D G M E NT

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Writ petitions preferred on identical facts and grounds by similarly placed primary agricultural credit co-operative societies registered under the Kerala Co-operative Societies Act, 1969 have been disposed of by this Court in terms of the judgment in W.P.(C).No.14906 of 2018 and connected cases, following the judgment in W.P.(C).No.9125 of 2018. In the light of the said judgment, these writ petitions are also disposed of modifying the impugned orders, directing the petitioners to pay 20% of the demand in six equal monthly instalments, in tune with the judgment in W.P.(C).No.9125 of 2018. The first instalment shall be paid within two weeks from the date of receipt of a copy of this judgment.

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The learned counsel for the petitioners submit that the petitioners are prepared to offer explanation as regards the nature and source of the cash credits in their books which were brought to tax as unexplained cash credits

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WPC.No.10162 of 2018 & con.cases. 2

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under Section 68 of the Income Tax Act, if an opportunity is given. This is a matter for the appellate authority to consider at the time of disposal of the appeals, and I do not find any reason for the appellate authority to decline such a request, if made at the time of hearing.

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The writ petitions are disposed of as above.

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Sd/-

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P.B.SURESH KUMAR,

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DSV/11/6/18

Anand Farmers Service- Co. Operative Bank Ltd. v. Central Board of Direct Taxes (Cbdt)

Case brief

What is this about?

What did the court decide?

Anand Farmers Service- Co. Operative Bank Ltd. v. Central Board of Direct Taxes (Cbdt)

Case brief

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What did the court decide?

What the court decided

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