IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN MONDAY, THE 8TH FEBRUARY 2010 / 19TH MAGHA 1931 ITA.No. 6 of 2007() ------------------- TA.33/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT ---------------------------------------- THE COMMISSIONER OF INCOME TAX, TRICHUR. BY ADV. SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENT(S): APPELLANT ------------------------- BLAZE KURIES & LOANS (P) LTD., IRINJALAKUDA. BY ADV. SRI. P. BALAKRISHNAN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 08/02/2010 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & P.S. GOPINATHAN, JJ. -------------------------------------------- I.T. A. No. 6 OF 2007 -------------------------------------------- Dated this the 8th day of February, 2010 JUDGMENT Ramachandran Nair, J. Counsel engaged for the respondent-assessee is no more. The question raised is whether interest received by the assessee from IDBI Mutual Funds, Bonds, Kissan Vikas Patras and Indira Vikas Patras is taxable under the Interest Tax Act. Interest tax is payable only on the interest received on loans and advances. None of the items of investments above referred is a loan or an advance made by the assessee. Consequently we uphold the order of the Tribunal and dismiss the departmental appeal. (C.N.RAMACHANDRAN NAIR) Judge. (P.S. GOPINATHAN) Judge. kk 2