IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN TUESDAY, THE 24TH JUNE 2008 / 3RD ASHADHA 1930 ITR.No. 117 of 1997() --------------------- AGAINST THE ORDER DATED 14/06/1996 IN RA NO.217/94 IN ITA.170/94 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPLICANT: ----------- 1. M/S. N.C. MACHINES PVT. LTD. COCHIN 16 ADDL. 2. SRI. P. RADHAKRISHNAN, MANAGING DIRECTOR, M/S. N.C. MACHINES PVT. LTD., RAVI NIVAS, AMBALAPPARA, OTTAPPALAM 679 512 ADDL. 3. SRI. K.K. GEORGE, DIRECTOR FINANCE, M/S. N.C. MACHINES PVT. LTD. 36/V-A 1540 H RED ROSE APARTMENTS, KATHRIKKADAVU ROAD, KALOOR, COCHIN 682 017 ADDL. R2 AND R3 ARE IMPLEADED AS PER ORDER DATED 7.11.2003 ON CMP 6823 OF 2002 R1 BY ADV. K.J.THOMAS (PARTY) ADDL.R3 BY ADV. SRI. PHILIP T. VARGHESE RESPONDENTS: ------------- THE COMMISSIONER OF INCOME TAX, ERNAKULAM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL,GOI(TAXES) SRI.GEORGE K. GEORGE, SC FOR IT FOR 0 THIS TAX REFERENCE HAVING BEEN FINALLY HEARD ON 24/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & V.K. MOHANAN, JJ. -------------------------------------------- I.T.R. No. 117 OF 1997 -------------------------------------------- Dated this the 24th day of June, 2008 JUDGMENT Ramachandran Nair,J. The question raised, that is demand of additional tax on reduction of loss in assessment, under section 143(1)(a) of the I.T. Act is upheld by the Tribunal relying on the amendment to Section 143(1A) with retrospective effect. The Supreme Court upheld the validity of amended Section 143(1A) in the decision in ASST. CIT V. J.K. SYTHETICS LTD., 251 I.T.R. 200. In the circumstances, we dispose of the reference case by answering the question referred in favour of the revenue and against the assessee. A copy of this judgment under the seal of the High Court and signature of the Registrar General shall be forwarded to the Income Tax Appellate Tribunal, Cochin Bench, Cochin. (C.N.RAMACHANDRAN NAIR) Judge. (V. K. MOHANAN) Judge. kk 2