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 20TH JULY 2009 / 29TH ASHADHA 1931 ITA.No. 517 of 2009() --------------------- ITA.41/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... 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): --------------- M/S. IRINJALAKUDA KURIES AND FINANCIERS PVT. LTD., IRINJALAKUDA. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 20/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T. Appeal No.517 of 2009 .................................................................... Dated this the 20th day of July, 2009. JUDGMENT Ramachandran Nair, J. Since the deposits with the Post Office under Kisan Vikas Pathra and India Vikas Pathra schemes are not in the nature of loans or advances, interest received therefrom is not assessable under the Interest Tax Act. Another issue raised i.e. liability under the Interest Tax Act on interest received for default kuries stands decided against Revenue by our decision in I.T.A. No.175/2008. We, therefore, dismiss the appeal. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms