The Commissioner Of Income Tax vs The Cochin Malabar Estates & … on 17 November, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

ITA.No. 1265 of 2009()


1. THE COMMISSIONER OF INCOME TAX,COCHIN.
                      ...  Petitioner

                        Vs



1. THE COCHIN MALABAR ESTATES & INDUSTRIES
                       ...       Respondent

                For Petitioner  :SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES)

                For Respondent  :SRI.A.KUMAR

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice V.K.MOHANAN

 Dated :17/11/2009

 O R D E R
                   C.N.RAMACHANDRAN NAIR &
                              V.K.MOHANAN, JJ.
              ....................................................................
                       I.T. Appeal No.1265 of 2009
              ....................................................................
             Dated this the 17th day of November, 2009.

                                     JUDGMENT

Ramachandran Nair, J.

Heard Senior counsel appearing for the appellant and counsel

appearing for the respondent-assessee. The appeal is filed against the

order of the Tribunal holding that assessment completed under Section

147 is time barred for the reason that notice was not issued under

Section 143(2) within the statutory period. However, the Tribunal’s

order stands neutralised by virtue of the amendments introduced to

Sections 148 and 153(2) of the Finance Act, 2001 with retrospective

effect whereunder assessment gets validated, no matter whether there

was timely issue of notice or not. Based on the amendment we allow

the appeal by vacating the order of the Tribunal and that of the first

appellate authority and remand the matter to the C.I.T.(Appeals) for

2

reconsideration of appeal on other issues. The assessee is free to

challenge reopening under Section 147 on other grounds.

C.N.RAMACHANDRAN NAIR
Judge

V.K.MOHANAN
Judge
pms