IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE B.P.RAY MONDAY, THE 22ND NOVEMBER 2010 / 1ST AGRAHAYANA 1932 ITA.No. 1232 of 2009() ---------------------- ITA.308/COCH/2006 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF INCOME TAX, THRISSUR. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/RESPONDENT ------------------------- M/S.THE CATHOLIC SYRIAN BANK LTD., ST.MARY'S COLLEGE ROAD, THRISSUR. ADV. SRI.K.VINOD CHANDRAN FOR R1 SRI.VINOD CHANDRAN SMT.A.S.BEENU FOR R1 THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 22/11/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & BHABANI PRASAD RAY, JJ. .................................................................... I.T. Appeal No.1232 of 2009 .................................................................... Dated this the 22nd day of November, 2010. JUDGMENT Ramachandran Nair, J. Heard Standing Counsel for the department and Adv. Sri.Vinod Chandran appearing for the respondent-assessee. Questions raised are squarely covered by decision of this court in I.T.A. No.467/2009 and connected cases rendered in the case of several assessees including this assessee. Following the said judgment we allow the appeal by reversing the order of the Tribunal and by restoring the assessment confirmed in first appeal. However, if any modification is required in the assessment in terms of the judgment abovereferred, then there will be direction to the Assessing Officer to carry out necessary modification after giving opportunity to the assessee, no matter the 2 issue was considered by the Commissioner of Income Tax (Appeals) or not. C.N.RAMACHANDRAN NAIR Judge BHABANI PRASAD RAY Judge pms