2014 (8) TMI 389

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....the Respondent : Mr. S. Krishnan, Advocate. ORDER CM No. 1728/2014 in ITA No. 32/2014 Exemption allowed, subject to all just exceptions. The application is disposed of. ITA Nos. 32/2014 and 33/2014 These two appeals by the Revenue pertain to assessment years 1996- 97 and 1997-98. The issue/question raised is whether the assessee was entitled to revalue the securities and, therefo....

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....is brief and full and complete details and facts relating to the issue in question are not on record. Similarly, the appellate orders also do not set out and state complete facts. 2. The tribunal dismissing the appeal has followed judgment of the Kerala High Court in Commissioner of Income Tax Vs. The Nedungadi Bank Ltd., (2003) 264 ITR 545 (Ker) and approved the view taken by the first appella....