Kerala High Court sets aside ITAT order, remands for fresh consideration. Full Bench decision to guide.

The High Court of Kerala allowed the appeal, setting aside the Income Tax Appellate Tribunal's order in ITA No.221/Coch/2018. The court remanded the appeal for fresh consideration by the Tribunal, directing it to consider the Full Bench decision in Mavilayi Service Co-operative Bank Ltd. for guidance. This decision aimed to ensure consistency in applying legal principles and fair consideration of cases.

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Issues Involved:
1. Application of Full Bench decision in Mavilayi Service Co-operative Bank Ltd. V. Commissioner of Income Tax
2. Setting aside the order of the Tribunal and remanding the appeal for fresh consideration

Analysis:
The judgment delivered by the High Court of Kerala, with Mr. C. K. Abdul Rehim and Mr. R. Narayana Pisharadi, JJ., addressed the issue of applying a Full Bench decision in Mavilayi Service Co-operative Bank Ltd. V. Commissioner of Income Tax. The court noted that a similar course of action had been taken in a previous case, where the appeal was allowed, the Tribunal's order was set aside, and the case was remanded for fresh consideration. Following this precedent, the court allowed the current appeal, set aside the impugned order passed by the Income Tax Appellate Tribunal, Cochin Bench in ITA No.221/Coch/2018, and remanded the appeal for fresh consideration and disposal by the Tribunal. The court directed the Tribunal to consider the decision of the Full Bench in Mavilayi Service Co-operative Bank Ltd. for guidance. The judgment emphasized consistency in applying legal principles and ensuring fair consideration of cases.

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