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Ita/1566/2009 Of The Commissioner Of Income-Tax, Tvpm v. Kerala Financial Corporation, Vellayamba

High Court 28 Aug 2009 In favour of: Assessee

Forum / Bench

High Court · highcourtofkerala

Parties

Date of order

28 Aug 2009

Assessment year(s)

—

Outcome

Dismissed

Case summary

In Ita/1566/2009 Of The Commissioner Of Income-Tax, Tvpm v. Kerala Financial Corporation, Vellayamba, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.

Decision: Since we have already held that deposit amount by financial institutions with the Bank is neither loan or advance, we dismiss theappeal on this issue raised by the department.

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 FRIDAY, THE 28TH AUGUST 2009 / 6TH BHADRA 1931 ITA.No. 1566 of 2009() ---------------------- ITA.18/COCH/2000 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT ----------------------------- THE COMMISSIONER OF INCOME-TAX, THIRUVANANTHAPURAM. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 28/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR &C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. No. 1566 OF 2009 -------------------------------------------- Dated this the 28th day of August, 2009 JUDGMENT Ramachandran Nair, J. Since we have already held that deposit amount by financial institutions with the Bank is neither loan or advance, we dismiss theappeal on this issue raised by the department. (C.N.RAMACHANDRAN NAIR)Judge. (C. K. ABDUL REHIM) Judge. kk

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This page reproduces a public-domain court order (Section 52(1)(q)(iv), Copyright Act 1957). Explanations are EaseValue's original analysis. Always read the original order.

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