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 THURSDAY, THE 13TH AUGUST 2009 / 22ND SRAVANA 1931 ITA.No. 1140 of 2009() ---------------------- TA.58/COCH/2004 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ------------------------------ THE COMMISSIONER OF INCOME TAX, TRICHUR. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S.LINK HIRE PURCHASE & LEASING CP.P.LTD., KUNNAMKULAM, TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 13/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. No. 1140 OF 2009 -------------------------------------------- Dated this the 13th day of August, 2009 JUDGMENT Ramachandran Nair,J. The main issue raised in the revenue's appeal stands decided by our decision reported in CIT V. KERALA STATE FINANCIAL ENTERPRISES LTD., 220 CTR 286. We therefore allow the appeal in part on this issue by reversing the order of the Tribunal and that of the first appellate authority and remand the matter to the assessing officer for redoing the assessment after issuing notice to the assessee and after serving a copy of this judgment. So far as interest received on bonds and securities are concerned, we uphold the order of the Tribunal because those are only investments, and return by way of interest is from investments and not from loan or advance. Appeal on this issue stands dismissed. Appeal is allowed in part as above. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) kk Judge. 2