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 FRIDAY, THE 14TH AUGUST 2009 / 23RD SRAVANA 1931 ITA.No. 1209 of 2009() ---------------------- ITA.67/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/RESPONDENT: ------------------------------- M/S.SWADESI CHITTIES PVT.LTD., PALLIKULAM ROAD, TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 14/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. ---------------------------------- I.T.A. No.1209 of 2009 ---------------------------------- Dated this the 14th day of August, 2009 J U D G M E N T ---------------------- Ramachandran Nair,J. Since the investments in Indira Vikas Pathra, Kisan Vikas Pathra and SBI Bonds are not in the nature of loans or advances the Tribunal rightly rejected the department's claim for assessment of interest under the interest Tax Act. We have taken the same view in several appeals. Consequently the appeal is dismissed. C.N.RAMACHANDRAN NAIR, JUDGE. C.K.ABDUL REHIM, JUDGE. okb