Ita/1408/2009 Of Commissioner Of Income Tax, Trichur v. Dhanalakshmi Bank Ltd., Trichur
High Court
19 Aug 2009 In favour of: Assessee
Forum / Bench
High Court · highcourtofkerala
Parties
Ita/1408/2009 Of Commissioner Of Income Tax, Trichur v. Dhanalakshmi Bank Ltd., Trichur
Date of order
19 Aug 2009
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/1408/2009 Of Commissioner Of Income Tax, Trichur v. Dhanalakshmi Bank Ltd., Trichur, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: Since in similar cases we held that interest received onGovernment securities does not attract liability under the Interest TaxAct, as it is not a loan or advance, we dismiss this departmental appeal.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
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
WEDNESDAY, THE 19TH AUGUST 2009 / 28TH SRAVANA 1931
ITA.No. 1408 of 2009()
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ITA.3/COCH/1999 of I.T.A.TRIBUNAL,COCHIN BENCH
....................
APPELLANT/RESPONDENT
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THE COMMISSIONER OF INCOME TAX,
TRICHUR.
BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX
RESPONDENT(S):
---------------
THE DHANALAKSHMI BANK LTD., TRICHUR.
THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION
ON 19/08/2009, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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I.T.A. No. 1408 OF 2009
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Dated this the 19th day of August, 2009
JUDGMENT
Ramachandran Nair, J.
Since in similar cases we held that interest received onGovernment securities does not attract liability under the Interest TaxAct, as it is not a loan or advance, we dismiss this departmental appeal.
(C.N.RAMACHANDRAN NAIR)Judge.
(C. K. ABDUL REHIM)
Judge.
kk
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