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 MONDAY, THE 11TH FEBRUARY 2008 / 22ND MAGHA 1929 ITR.No. 15 of 1998() -------------------- AGAINST THE ORDER DATED / / IN GTA 57/COCH/91 IN RA.53/1997 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPLICANT: ----------- THE COMMISSIONER OF GIFT TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SC FOR IT RESPONDENTS: ------------- G.GEORGE VARGHESE, VADAKKEPARAMBIL, THILLERY, MUNDAKKAL, QUILON. BY ADV. SRI.K.SUBASH CHANDRA BOSE THIS TAX REFERENCE HAVING BEEN FINALLY HEARD ON 11/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & T.R.RAMACHANDRAN NAIR, JJ. .................................................................... I.T.R. No.15 of 1998 .................................................................... Dated this the 11th day of February, 2008. JUDGMENT C.N.Ramachandran Nair, J. Even though counsel for the Revenue relied on Division Bench judgment of this court in COMMISSIONER OF GIFT-TAX V. M.C.GEORGE (2002) 253 ITR 363, the same is no longer good law by virtue of Full Bench judgment of this court in MATHEW VARGHESE V. ROSAMMA VARGHESE (2004) 186 ITR (Ker) 172. We, therefore, follow the Full Bench judgment and answer the question against the Revenue and in favour of the assessee. The Tribunal will issue consequential orders. A copy of this judgment under the seal of the High Court and signature of the Registrar shall be forwarded to the Income Tax Appellate Tribunal, Cochin Bench, Cochin. C.N.RAMACHANDRAN NAIR Judge T.R.RAMACHANDRAN NAIR Judge pms