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 WEDNESDAY, THE 5TH AUGUST 2009 / 14TH SRAVANA 1931 ITA.No. 914 of 2009() --------------------- ITA.616/COCH/2006 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT. ---------------------------------------- THE COMMISSIONER OF INCOME-TAX, CALICUT. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDNET. -------------------------- CALICUT CO-OPERATIVE URBAN BANK LTD., CALICUT. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 05/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T. Appeal No.914 of 2009 .................................................................... Dated this the 5th day of August, 2009. JUDGMENT Ramachandran Nair, J. In view of the finding by the Tribunal that trading in Government securities done by the respondent-Bank is under permission from the RBI, we feel the Tribunal rightly treated it as part of banking business. Since the issue pertaining to eligibility for exemption in the case of Co- operative Bank stands decided by various decisions of the Supreme Court in favour of the respondent, relied on by the Tribunal for another year, we dismiss the department's appeal. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms