Ita/920/2009 Of The Commissioner Of Income Tax, Trichur v. Devamatha Kuries And Finance (P) Ltd
High Court
05 Aug 2009 In favour of: Assessee
Forum / Bench
High Court · highcourtofkerala
Parties
Ita/920/2009 Of The Commissioner Of Income Tax, Trichur v. Devamatha Kuries And Finance (P) Ltd
Date of order
05 Aug 2009
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/920/2009 Of The Commissioner Of Income Tax, Trichur v. Devamatha Kuries And Finance (P) Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: The position is not different so far asdefault interest received in respect of defaulted kuries is concerned.We, therefore, uphold the order of the Tribunal and dismiss thedepartment's 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 5TH AUGUST 2009 / 14TH SRAVANA 1931
ITA.No. 920 of 2009()
---------------------
ITA.19/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. DEVAMATHA KURIES & FINANCE PVT.LTD,
ARAFA BUILDING, CHURCH CIRCLE, TRICHUR.
THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION
ON 05/08/2009, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ.
....................................................................I.T. Appeal No.920 of 2009
....................................................................Dated this the 5th day of August, 2009.
JUDGMENT
Ramachandran Nair, J.
Since deposits with the Post Office under the Indira Vikas Pathraand Kisan Vikas Pathra schemes are not loans or advances, Tribunalrightly deleted levy of interest tax on the interest received by theassessee on these deposits. The position is not different so far asdefault interest received in respect of defaulted kuries is concerned.We, therefore, uphold the order of the Tribunal and dismiss thedepartment's appeal.
C.N.RAMACHANDRAN NAIRJudge
pms
C.K.ABDUL REHIM Judge
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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