IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN WEDNESDAY, THE 18TH JUNE 2008 / 28TH JYAISHTA 1930 ITA.No. 116 of 1999() --------------------- ITA.460(COCH)/1995 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ----------------- THE COMMISSIONER OF INCOME-TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL,GOI(TAXES) SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: ------------- M/S.POYILAKADA FISHERIES P. LTD., PARAMESWAR NAGAR, QUILON. THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 18/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. .................................................................... I.T. Appeal No.116 of 1999 .................................................................... Dated this the 18th day of June, 2008. JUDGMENT Ramachandran Nair, J. The first question raised in the appeal filed by the Revenue against the order of the Tribunal is covered by decision of the Supreme Court in C.I.T. V. K.RAVEENDRANATHAN NAIR (2007) 295 ITR 228. The second question raised is covered by decision of this court in assessee's own case, COMMISSIONER OF INCOME-TAX V. POYILAKADA FISHERIES P. LTD. (2001) 252 ITR 661. Following these two judgments we allow the appeal filed by the Revenue by setting aside the order of the Tribunal and restoring the assessment confirmed in first appeal. However, if any recomputation is required in terms of the above judgments, the Assessing Officer will modify the assessment to the extent required based on assessee's request. C.N.RAMACHANDRAN NAIR Judge V.K.MOHANAN Judge pms