IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN FRIDAY, THE 27TH FEBRUARY 2009 / 8TH PHALGUNA 1930 ITA.No. 123 of 2008() --------------------- ITA.62/2002 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANTS/APELLANTS:- --------------------------- 1. COMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM. 2. K.R.USHASREE SAI EXPORT ENTERPRISES MANGAD, KOLLAM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) RESPONDENT/RESPONDENT:- ------------------------------- SMT.K.R. USHASREE, SAI EXPORTS ENTERPRISES, MANGAD, KOLLAM. BY ADV. SRI.P.BALAKRISHNAN (E) SRI.MOHAN PULIKKAL SRI.K.C.KIRAN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 27/02/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & K. SURENDRA MOHAN, JJ. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I.T.A. No. 123 OF 2008 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 27th day of February, 2009 JUDGMENT Ramachandran Nair,J. Questions 1 and 2 raised in the appeal filed by the Revenue is covered in favour of the Revenue by the decision of the Supreme Court in Commissioner of Income Tax v. K. Ravindranathan Nair [295 ITR 228]. Eventhough the third question is covered by the decision of this Court reported in Commissioner of Income Tax v. T.C. Usha [264 ITR 368], the earlier decision based on which High Court rendered the judgment in T.C. Usha's case (supra) is now reversed by the Supreme Court. We therefore set aside the order of the Tribunal with direction to the assessing officer to revise the assessment based on the later decision of the Supreme Court, after hearing the assessee as well. (C.N.RAMACHANDRAN NAIR) Judge. (K. SURENDRA MOHAN) Judge. ttb