Following Judgment In Commissioner Of Income Tax v. C.n.ramachandran Nair Judge

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 3RD AUGUST 2009 / 12TH SRAVANA 1931 ITA.No. 848 of 2009() --------------------- INT. TA.7/2006 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF INCOME TAX, TRICHUR. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDENT ------------------------- M/S.SUBITHA LEASING COMPANY LTD., KUNNAMKULAM, TRICHUR DISTRICT. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 03/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ. ....................................................................I.T. Appeal No.848 of 2009 ....................................................................Dated this the 3rd day of August, 2009. JUDGMENT Ramachandran Nair, J. Following judgment in COMMISSIONER OF INCOME TAX V.KERALA STATE FINANCIAL ENTERPRISES LTD. (220 CTR 286)we allow the appeal by setting aside the orders of the Tribunal and thatof the first appellate authority and remand the matter to the AssessingOfficer for making fresh assessment based on judgment abovereferredafter issuing notice and after serving a copy of this judgment on theassessee. If default interest is collected, then the same will also attracttax by virtue of judgment in I.T.A. No.57/2009. C.N.RAMACHANDRAN NAIRJudge C.K.ABDUL REHIM Judge