IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 10TH AUGUST 2009 / 19TH SRAVANA 1931 ITA.No. 1036 of 2009() ---------------------- ITA.36/COCH/2004 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF INCOME TAX,TRICHUR. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDENT ------------------------- M/S.TRULY KURIES & LOANS (P) LTD., KUNNAMKULAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 10/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. No. 1036 OF 2009 -------------------------------------------- Dated this the 10th day of August, 2009 JUDGMENT Ramachandran Nair,J. Since the issue raised is squarely covered by the decision of this Court in CIT v. KERALA STATE FINANCIAL ENTERPRISES LTD., 220 CTR 286, we allow the appeal by setting aside the order of the Tribunal and that of the first appellate authority and remand the matter to the assessing officer for redoing the assessment based on the principles laid down in the above decision after issuing notice to the assessee and after serving a copy of this judgment. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) Judge. kk 2