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 21ST AUGUST 2009 / 30TH SRAVANA 1931 ITA.No. 1494 of 2009() ---------------------- ITA.26/COCH/2003 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: -------------------- THE COMMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S TRANSWORLD HIRE PURCHASE INDIA LTD., BEACH ROAD, KOLLAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 21/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. No. 1494 OF 2009 -------------------------------------------- Dated this the 21st day of August, 2009 JUDGMENT Ramachandran Nair, J. Following the later judgment of this Court after the Tribunal's order reported in CIT V. KERALA STATE FINANCIAL ENTERPRISES LTD., 220 CTR 286, we allow the appeal by setting aside the order of the Tribunal and that of the first appellate authority and remand the matter to the assessing officer for re-computation of interest liability based on the above judgment after giving an opportunity to the assessee and after serving a copy of this judgment on the assessee. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) Judge. kk 2