IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR THURSDAY, THE 14TH FEBRUARY 2008 / 25TH MAGHA 1929 ITA.No. 127 of 2002() --------------------- MP 16/COCH/2001 IN ITA.437/COCH/1997 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/RESPONDENT: -------------------------------------- THE COMMISSIONER OF INCOME TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: APPELLANT: ----------------------- M/S.BABY MARINE PRODUCTS, KOLLAM. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 14/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.A. No. 127 OF 2002 -------------------------------------------- Dated this the 14th day of February, 2008 JUDGMENT C.N. Ramachandran Nair,J. In this Departmental appeal, two questions raised are covered in favour of the assessee and against the revenue by decision of the Supreme Court in assessee's own case reported in CIT V. BABY MARINE EXPORTS, 290 I.T.R. 323. Therefore questions 1 and 2 are answered in favour of the assessee and against the revenue following the said decision. So far as the third question is concerned, we set aside the demand of interest with direction to the assessing officer to reconsider the case in revised assessment proceedings after referring to the decision of this Court in SEA PEARL ENTERPRISES V. DEPUTY COMMISSIONER OF INCOME TAX, (2007) 294 I.T.R. 374 (Ker.), which affirms the retrospective amendment of interest provisions. Appeal is disposed of as above. (C.N.RAMACHANDRAN NAIR) Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk 2