Ita/7/2003 Of The Commissioner Of Income Tax,Tvm v. M/S.transworld Credit&Investment Co.ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN MONDAY, THE 16TH JUNE, 2008 / 26TH JYAISHTA, 1930 ITA.No. 7 of 2003 (ITA.7/COCH/2001 of I.T.A.TRIBUNAL,COCHIN BENCH) .................... APPELLANT/RESPONDENT: --------------------------------- THE COMMISSIONER OF INCOME TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENT/APPELLANT: --------------------------------- M/S.TRANSWORLD CREDIT & INVESTMENT, CO.(P) LTD., KOLLAM. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 16/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. --------------------------------------------- I.T.A.No. 7 of 2003 --------------------------------------------- Dated this the 16[th] day of June, 2008 J U D G M E N T Ramachandran Nair,J: Since the issue raised in this appeal is alreadydecided in favour of the appellant and against the assesseein I.T.A.Nos.264, 237 and 220 of 2002 dated 10.3.2008and I.T.A.Nos.305, 286 and 281 of 2002, following thejudgment in these cases, we reverse the order of theTribunal and restore the order of the First AppellateAuthority. The appeal is allowed. C.N.RAMACHANDRAN NAIR, Judge V.K.MOHANAN, Judge MBS/ C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. -------------------------------------------- I.T.A.NO. 7 OF 2003 ------------------------------------ J U D G M E N T DATED: 16-6--2008