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 30TH JULY 2009 / 8TH SRAVANA 1931 ITA.No. 763 of 2009() --------------------- ITA.40/C0CH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT ----------------------------- THE COMMISSIONER OF INCOME TAX, TRICHUR. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S.IRINJALAKUDA KURIES & FINANCIERS PVT. LTD., IRINJALAKUDA. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 30/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T. Appeal No.763 of 2009 .................................................................... Dated this the 30th day of July, 2009. JUDGMENT Ramachandran Nair, J. The issue raised is whether the assessee is liable to pay interest tax under the Interest Tax Act on interest received from company deposits and deposits under the Indira Vikas Pathra scheme. Since these are in the nature of investments and not loans or advances, the department's claim is not tenable. Consequently we dismiss the appeal. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms