9911796707
TMI Blog2019 (8) TMI 300X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 1639, 1640, 1641, 1642, 1643, 1644, 1646, 1647, 1649, 1651 W. A. No. 1652 of 2019 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... held that the Division Bench judgment in Chirakkal Service Co operative Bank Ltd. v. Commissioner of Income Tax (2016(2) KLT 535) is no more good law, in view of the ruling of the Apex Court in Citizen Co-operative Society Ltd. v. Assistant Commissioner of Income Tax (2017(4)KLT Online 2013(SC)). It was held therein that, by the reason of sub-section (4) of Section 80P, the Assessing Officer has to conduct an enquiry into the factual situations as to the activities of the Assessee society and to arrive at a conclusion whether the benefits can be extended or not, in the light of the said provision. Therefore the Full Bench found that the law laid down by a Division Bench of this Court in Perinthalmanna Co operative Bank Ltd. v. Income Tax O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rim stay shall take into consideration of the prima facie merit in the appeals. This court as well as the Apex Court has deprecated the practice of insisting upon part payments without prima facie consideration of the merits and without proper application of mind. Decisions are mainly to the extent that, those aspects should also reflect in such interim orders. However, an analysis on the basis of these settled principle need not to be ventured in the cases at hand, because the grounds of challenge is mainly on the basis of the subsequent Full Bench ruling. 7. We take note of the fact that this Division Bench had already remanded certain Income Tax Appeals, which were filed challenging the orders of the Income Tax Appellate Tribunal, on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th remarkable capital assets. Therefore it cannot be said that there will be any difficulty for realising the liabilities, if the ultimate decision goes against the appellants. Hence we are inclined to direct the Appellate Authority for an early disposal of the appeals and till then to grant an absolute stay without insisting upon payment of any portion of any disputed amounts. Under the above mentioned circumstances, all the above appeals are hereby allowed. The impugned judgments of the Single Judge are hereby set aside. Ext-P4 interim order impugned in all these cases are modified to the extent of granting absolute stay with respect to realisation of the disputed amount of tax in the respective appeals, pending disposal of such appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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