Ita/698/2009 Of The Commissioner Of Income Tax, Trichur v. Irinjalakuda Kuries & Finances (P) Ltd
High Court
29 Jul 2009 In favour of: Assessee
Forum / Bench
High Court · highcourtofkerala
Parties
Ita/698/2009 Of The Commissioner Of Income Tax, Trichur v. Irinjalakuda Kuries & Finances (P) Ltd
Date of order
29 Jul 2009
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/698/2009 Of The Commissioner Of Income Tax, Trichur v. Irinjalakuda Kuries & Finances (P) Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: Since the interest involved in this case are on deposits withthe companies and on tax free bonds, such interest is not by wayof interest on loans or advances attracting liability under the Act.Consequently we hold the order of the Tribunal and dismiss theappeal.
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 29TH JULY 2009 / 7TH SRAVANA 1931
ITA.No. 698 of 2009()
---------------------
ITA.102/COCH/2004 of I.T.A.TRIBUNAL,COCHIN BENCH
....................
APPELLANT/APPELLANT:
--------------------------
THE COMMISSIONER OF INCOME TAX,TRICHUR.
BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX
RESPONDENT(S): RESPONDENT:
-------------------------
IRINJALAKUDA KURIES & FINANCE (P) LTD.,
IRINJALAKUDA.
THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION
ON 29/07/2009, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
-----------------------------------
I.T.A. No. 698 of 2009
--------------------------------------
Dated this the 29[th] day of July, 2009
J U D G M E N T----------------------
Ramachandran Nair,J.
Since the interest involved in this case are on deposits withthe companies and on tax free bonds, such interest is not by wayof interest on loans or advances attracting liability under the Act.Consequently we hold the order of the Tribunal and dismiss theappeal.
C.N.RAMACHANDRAN NAIR, JUDGE.
C.K.ABDUL REHIM, JUDGE.
okb
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