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 WEDNESDAY, THE 30TH JANUARY 2008 / 10TH MAGHA 1929 ITA.No. 40 of 2004() -------------------- ITA.358/2004 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ------------------ KAVERI TREADS PVT.LTD., PUTHENANGADI, KOTTAYAM. BY ADV. SRI.JOSEPH MARKOSE SRI.MITHUN MARKOS RESPONDENTS: ---------------------- ASST.COMMISSIONER OF INCOME TAX, CIRCLE-1, KOTTAYAM. BY ADV. SRI.GEORGE K. GEORGE, SC FOR IT THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 30/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & T.R.RAMACHANDRAN NAIR, JJ. ============================ I.T.Appeal No.40 of 2004. ============================ Dated this the 30th day of January, 2008. C.N.Ramachandran Nair, J. J U D G M E N T This appeal is filed against the Tribunal's order upholding the validity of income escaping assessment made under Section 147 of the Income Tax Act. The appellant's case is that the first appellate authority rightly cancelled the assessment as one impermissible under the Act. Going by the Tribunal's order, we find that the decisions relied on by the Commissioner (Appeals) in holding that the reassessment is without jurisdiction were rendered with reference to the statutory provision prior to the amendment made on 1.4.1989. The ground for reopening this case under Section 147 was based on the mistake pointed out by the audit party. The Supreme Court has in the decision reported in Commissioner of Income-Tax v. P.V.S.Beedies (P) Ltd. [(1999) 237 ITR 13] upheld the validity of a similar reassessment under Sec.147. I.T.Appeal No.40 of 2004. 2 We do not find any ground to interfere with the Tribunal's order based on the above decision of the Supreme Court. So far as the merit of the case is concerned, the Tribunal has remanded the case to the first appellant authority for considering all the issues. The Income Tax Appeal is therefore dismissed. C.N.RAMACHANDRAN NAIR, JUDGE. T.R.RAMACHANDRAN NAIR, JUDGE. kvs/-