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Ita/615/2009 Of The Commissioner Of Income Tax v. M/S.maveli Kuries

High Court 27 Jul 2009 In favour of: Assessee

Forum / Bench

High Court · highcourtofkerala

Parties

Date of order

27 Jul 2009

Assessment year(s)

—

Outcome

Dismissed

Case summary

In Ita/615/2009 Of The Commissioner Of Income Tax v. M/S.maveli Kuries, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.

Decision: Since deposits in Post Office under the Indira Vikas Pathra andKisan Vikas Pathra schemes are not in the nature of loans and advancesand in similar cases we have taken such a view, we dismiss the appealfiled by the Revenue.

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 MONDAY, THE 27TH JULY 2009 / 5TH SRAVANA 1931 ITA.No. 615 of 2009() --------------------- ITA.73/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. MAVELI KURIES & LOANS PVT. LTD., CHURCH CIRCLE, TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 27/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ. ....................................................................I.T. Appeal No.615 of 2009 ....................................................................Dated this the 27th day of July, 2009. JUDGMENT Ramachandran Nair, J. Since deposits in Post Office under the Indira Vikas Pathra andKisan Vikas Pathra schemes are not in the nature of loans and advancesand in similar cases we have taken such a view, we dismiss the appealfiled by the Revenue. C.N.RAMACHANDRAN NAIRJudge pms C.K.ABDUL REHIM Judge

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