Ita/1142/2009 Of The Commissioner Of Income Tax,Trichur v. M/S.olarikkara Kuries & Loans (P)Ltd

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 THURSDAY, THE 13TH AUGUST 2009 / 22ND SRAVANA 1931 THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM ITA.No. 1142 of 2009() ---------------------- ITA.61/COCH/2004 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.OLARIKKARA KURIES & LOANS (P) LTD., OLARIKKARA, TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 13/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ON 13/08/2009, THE COURT ON THE SAME DAY DELIVERED THE -------------------------------------------- I.T.A. No. 1142 OF 2009 -------------------------------------------- Dated this the 13th day of August, 2009 JUDGMENT Ramachandran Nair,J. Since the deposits in Post Offices in Kissan Vikas Patras and Indira Vikas Patras are investments and not in the nature of loan oradvance, the Tribunal rightly rejected the department's claim forassessment of interest under the Interest Tax Act. Consequently wedismiss the appeal. (C.N.RAMACHANDRAN NAIR)Judge. (C. K. ABDUL REHIM) Judge. kk