The Commissioner Of Income Tax vs The Dhanalakshmi Bank Ltd. on 27 August, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

ITA.No. 1536 of 2009()


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

                        Vs



1. THE DHANALAKSHMI BANK LTD.,TRICHUR.
                       ...       Respondent

                For Petitioner  :SRI.JOSE JOSEPH, SC, FOR INCOME TAX

                For Respondent  : No Appearance

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice C.K.ABDUL REHIM

 Dated :27/08/2009

 O R D E R
                    C.N.RAMACHANDRAN NAIR &
                            C.K.ABDUL REHIM, JJ.
               ....................................................................
                        I.T. Appeal No.1536 of 2009
               ....................................................................
                Dated this the 27th day of August, 2009.

                                      JUDGMENT

Ramachandran Nair, J.

Since we have taken the view that interest on Government

securities and other invesments by the Bank are not in the nature of

loan or advance attracting liability on the interest received under the

provisions of the Interest Tax Act, we dismiss the departmental appeal.

C.N.RAMACHANDRAN NAIR
Judge

C.K.ABDUL REHIM
Judge
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