Demand of Income Tax against Kadavallor Co-operative Society: Kerala HC stays Recovery Proceeding under Income Tax Act [Read Order]

The Kerala High Court stayed the recovery Proceeding under the Income Tax Act, 1961 on the demand of Income Tax against Kadavallor Co-operative Society.

The amounts directed to be re-credited to the appellant have since been re-credited pursuant to an interim order. The appellant/bank before the Income Tax Appellate Tribunal has been listed for hearing at 10.30 am on 24.11.2023.

The division bench of Dr Justice A K Jayasankaran Nambiar & Dr Justice Kauser Edappagath disposed of the writ appeals, by making the interim orders absolute, and by directing the Income Tax Appellate Tribunal, Cochin Bench to consider the appeals or the stay applications preferred by the appellant as indicated in the notice of the Tribunal after hearing the appellant. 

“There shall be a stay of recovery of the amounts confirmed against the appellant by the orders impugned in the writ petitions, pending disposal of the stay applications/appeals, whichever is earlier, by the Tribunal.  As already noticed in our order dated 8.11.2023, the appellant shall also ensure that the amounts recredited in their account are retained as fixed deposits in the bank, pending the passing of orders by the Tribunal in the stay applications/appeals, as the case may be.”, the bench held.

To Read the full text of the Order CLICK HERE

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