IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN MONDAY, THE 23RD MARCH 2009 / 2ND CHAITHRA 1931 ITA.No. 80 of 2008() -------------------- ITA.38/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 IT RESPONDENT(S): --------------- M/S.ENGLISH INDIAN CLAYS LTD VELI, THIRUVANANTHAPURAM. ADV. SRI.A.KUMAR FOR R1 THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 23/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & K.SURENDRA MOHAN, JJ. .................................................................... I.T. Appeal No.80 of 2008 .................................................................... Dated this the 23rd day of March, 2009. JUDGMENT Ramachandran Nair, J. The three questions raised in the appeal filed by the Revenue relate to assessee's claim for higher depreciation. After hearing counsel and on going through the orders of the lower authorities including the Tribunal, we find that the matter only stands remanded to the Assessing Officer based on the certificate produced by the assessee before the first appellate authority. We do not find any substantial question of law arising from the order of the Tribunal in respect of a remand order for considering higher rate of depreciation. Appeal on this issue is dismissed. 2. Standing Counsel appearing for the appellant submitted that I.A. 2840/2008 is filed to bring an additional issue pertaining to business loss allowed by the Tribunal in trading of shares. We notice that the first appellate authority as well as the Tribunal allowed the claim for the reason that income pertaining to sale of shares of the very 2 same company, though a related income, was assessed as business income for the year 1997-98. We do not think the department can take a different stand when loss is claimed by the assessee pertaining to sale of shares of the very same company. In the circumstances, the above I.A. is allowed permitting the appellant to raise the question before us. However, we uphold the order of the Tribunal and dismiss the appeal on this issue also. C.N.RAMACHANDRAN NAIR Judge K.SURENDRA MOHAN Judge pms