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 11TH JUNE 2009 / 21ST JYAISHTA 1931 ITA.No. 7 of 2009() ------------------- ITA.371/COCH//2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/ 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): RESPONDENT ------------------------- SRI.K.RAJENDRANATHAN NAIR,WESTERN INDIA CASHEW CO.,KOCHUPILAMMOODU, KOLLAM-691001. ADV. SRI.H.B.SHENOY FOR R1 SRI.B.ASHOK SHENOY FOR R1 SMT.LAKSHMI B.SHENOY FOR R1 SRI.ABU MATHEW FOR R1 SRI.SOBHAN GEORGE FOR R1 SRI.THOMAS P.MAKIL FOR R1 THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 11/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T. Appeal No.7 of 2009 .................................................................... Dated this the 11th day of June, 2009. JUDGMENT Ramachandran Nair, J. The questions raised by the Revenue pertaining to computation of export profit under Section 80HHC of the Income Tax Act is covered by decision of the Supreme Court in COMMISSIONER OF INCOME TAX V. K.RAVEENDRANATHAN NAIR reported in 2007(295) ITR 228. Following the said judgment we allow the appeal by reversing the orders of the Tribunal and that of the first appellate authority and remand the matter to the Assessing Officer for recomputation of eligible profit in terms of decision of the Supreme Court referred above after notice to the respondent and after serving a copy of this judgment on him. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms