Peroorkada Service Co-Operative Bank Ltd. Vs ITO (Kerala High Court)
Kerala High Court held that recovery proceedings by attaching the bank account directed to be deferred till the appeals relating to denial of benefits under section 80P of the Income Tax Act are finalized.
Facts- The petitioner has approached this Court, being aggrieved by the fact that the amounts due under the orders of assessment are being sought to be recovered by attaching the bank accounts maintained by the petitioner with the 5th respondent bank. Notably, in most of the cases, demand arises out of the denial of benefit under section 80P of the Income Tax Act.
Conclusion- Held that the writ petition will stand disposed of, directing that the steps for recovery of any demands finalized against the petitioner for the years 2012-13 and 2013-14 shall stand deferred till appeals filed for the said years are heard and disposed of by the 3rd respondent and till the appeals filed for the years 2016-17, 2017-18 and 2018-19 are heard and disposed of by the 4th respondent-Tribunal. Recovery relating to the demand arising for the year 2014-15 will be deferred till a decision is taken on the application for rectification of mistake by the 4th respondent-Tribunal. As result of the aforesaid directions, will also stand set aside.






