IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE M.L.JOSEPH FRANCIS THURSDAY, THE 6TH JANUARY 2011 / 16TH POUSHA 1932 ITA.No. 27 of 2010() -------------------- ITA.255/COCH/2002 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF INCOME TAX, KOTTAYAM BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/RESPONDENT ------------------------- M/S.MANGALAM PUBLICATIONS, KOTTAYAM. ADV. SRI.P.BALAKRISHNAN (E) THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 06/01/2011, THE COURT ON 06/01/2011 DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & M.L.JOSEPH FRANCIS, JJ. .................................................................... I.T. Appeal No.27 of 2010 .................................................................... Dated this the 6th day of January, 2011. JUDGMENT Ramachandran Nair, J. The issue raised i.e. limitation for assessment under Section 147 of the Income Tax Act, is covered by decision of the Supreme Court in ASST. COMMISSIONER OF INCOME TAX VS. RAJESH JHAVERI STOCK BROKERS P. LTD. reported in (2007) 291 ITR 500 and decision of this court in COMMISSIONER OF INCOME TAX VS. CHANDRASEKHARA BALAGOPAL reported in 227 CTR 308. Consequently we allow the appeal by reversing the order of the Tribunal and that of the first appellate authority and restore the assessment as passed within time. However, since the Tribunal has not decided the case on merits, the appeal will stand restored to the Tribunal for decision on merits after hearing both sides. C.N.RAMACHANDRAN NAIR Judge M.L.JOSEPH FRANCIS Judge pms