IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR THURSDAY, THE 31ST JANUARY 2008 / 11TH MAGHA 1929 ITA.No. 210 of 2001() --------------------- AGAINST THE ORDER DATED 25.6.2001 IN COCH. IN ITA.561/1996 of I.T.A.TRIBUNAL,COCHIN BENCH, COCHIN .................... APPELLANT:RESPONDENT ----------------- THE COMMISSIONER OF INCOME TAX, COCHIN BY ADV. SRI.P.K.R.MENON(SR.),SC FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: ------------- M/S. JACSONS VENEERS & PANELS (P) LTD. COCHIN BY ADV. SRI.JOSEPH MARKOSE SRI.THOMAS VELLAPPALLY THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 31/01/2008 THE COURT ON THE SAME DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.A. No. 210 OF 2001 -------------------------------------------- Dated this the 31st day of January, 2008 JUDGMENT C.N. Ramachandran Nair,J. Since the issue raised is squarely covered in favour of the revenue and against the assessee by decision of the Supreme Court in COMMISSIONER OF INCOME TAX V. SHIRKE CONSTRUCTION EQUIPMENT LTD., (2007) 291 I.T.R. 380(SC) this appeal is allowed reversing the order of the Tribunal and restoring the assessment pertaining to computation profit under Section 80HHC of the I.T. Act. (C.N.RAMACHANDRAN NAIR) Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk