IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN THURSDAY, THE 24TH FEBRUARY 2011 / 5TH PHALGUNA 1932 ITA.No. 5 of 2010() ------------------- ITA.879/COACH/2004 of INCOME TAX APPELLATE TRIBUNAL,COCHIN BENCH, COCHIN. .................... APPELLANT: ---------------------- THE CATHOLIC SYRIAN BANK LTD., ST.MARYS COLLEGE ROAD, THRISSUR. BY ADV. SRI.K.VINOD CHANDRAN RESPONDENT(S): ---------------------------- THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE I (1) RANGE-1, TRICHUR. BY ADV. SRI.JOSE JOSEPH, SC,INCOME TAX THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 24/02/2011 ALONG WITH ITA NO.6 OF 2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss C.N. RAMACHANDRAN NAIR & P.S. GOPINATHAN, JJ. = = = = = = = = = = = = = = = = = = = = = I.T.A. Nos. 5 & 6 of 2010 = = = = = = = = = = = == == = = = = DATED THIS, THE 24TH DAY OF FEBRUARY, 2011. J U D G M E N T C.N. Ramachandran Nair,J. All the issues raised in these connected appeals are covered by our judgments partly in favour of the assessee and partly against them. So far as valuation of unquoted Government security is concerned, the decision is in favour of the assessee. and the same is rendered in I.T.A. 234 of 2009. So far as disallowance under Section 14A is concerned we have held in our judgment in I.T.A. 720/2009 that assessments completed could not be revised for disallowance u/s. 14A for any period prior to 2001-2002. So far as the last issue is concerned, ie. addition in block assessment under Section 115JA, this Court directed the assessing officer to consider application of clause (f) of Section 115JA and make assessment in accordance with the said provision. Following the above judgments, we allow these appeals in part by reversing the orders of the Tribunal to the extent such orders are against the decisions above stated and direct the assessing officer to modify the ITA NOS. 5 & 6/2010 2 assessment suitably, particularly under Section 115JA after considering the application of sub-clause (f) to the provision in the case of the assessee. C.N. RAMACHANDRAN NAIR, (JUDGE) P.S. GOPINATHAN, (JUDGE) knc/-