IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE B.P.RAY FRIDAY, THE 12TH NOVEMBER 2010 / 21ST KARTHIKA 1932 ITA.No. 998 of 2009() --------------------- AGAINST THE ORDER OF THE ITAT, COCHIN BENCH IN ITA.102/COCH/2001 .................... APPELLANT / RESPONDENT ----------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): / APPELLANT --------------- M/S.FEDERAL BANK LTD., ALUVA. ADV. SRI.JOSEPH KODIANTHARA FOR RES SRI.TERRY V.JAMES FOR RES THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 12/11/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & BHABANI PRASAD RAY, JJ. ---------------------------------- ITA No.998 of 2009 --------------------------------- Dated, this the 12th day of November, 2010 J U D G M E N T Ramachandran Nair, J. Both issues raised in this appeal are covered by judgment of this Court in ITA No.234/2009 dated 07/10/2010. So far as revaluation of security is concerned, the issue stands decided in favour of the assessee. However, the question of deduction claimed by the assessee on provision for bad debts, for the advances made by the rural branches, is concerned, the issue stands decided in favour of the Revenue. Following the judgment referred to above, we allow this appeal in part, with a direction to the Assessing Officer to revise the assessment to the extent required, based on the principles laid down in the above judgment. (C.N.RAMACHANDRAN NAIR, JUDGE) (BHABANI PRASAD RAY, JUDGE) jg