Ita/325/2002 Of The Commissioner Of Income Tax v. M/S.bell Leasing & Hire Purchase (P)Ltd
High Court
24 Jun 2008 In favour of: Revenue
Forum / Bench
High Court · highcourtofkerala
Parties
Ita/325/2002 Of The Commissioner Of Income Tax v. M/S.bell Leasing & Hire Purchase (P)Ltd
Date of order
24 Jun 2008
Assessment year(s)
—
Outcome
Allowed
Case summary
In Ita/325/2002 Of The Commissioner Of Income Tax v. M/S.bell Leasing & Hire Purchase (P)Ltd, the High Court (2008) allowed the appeal. The decision went in favour of the Revenue.
Decision: Since the issue raised in both the appeals i.e. liability for payment oftax under the Interest Tax Act on finance charges received, is squarelycovered by decision of this court in I.T.A No.230 of 2002 and connectedcases dated 10.3.2008, we allow these appeals filed by the Revenue byreversing the ord...
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR
&
THE HONOURABLE MR. JUSTICE V.K.MOHANAN
TUESDAY, THE 24TH JUNE 2008 / 3RD ASHADHA 1930
ITA.No. 325 of 2002()
---------------------
INT. TA.12/COCH/1996 of I.T.A.TRIBUNAL,COCHIN BENCH
....................
: APPELLANT
--------------------------
THE COMMISSIONER OF INCOMETAX,
COCHIN.
BY ADV. SRI.GEORGE K. GEORGE, SC FOR IT
RESPONDENTS:
-------------
M/S.BELL LEASING & HIRE PURCHASE (P)LTD.
CHAKIAT CHAMBERS, M.G.ROAD, COCHIN-16.
BY ADV. SRI.K.VINOD CHANDRAN
THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD
ON 24/06/2008, ALONG WITH ITA NO.12 OF 2003, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
C.N.RAMACHANDRAN NAIR &V.K.MOHANAN, JJ.
....................................................................
12 of 2003
....................................................................
Dated this the 24th day of June, 2008.
JUDGMENT
Ramachandran Nair, J.
Since the issue raised in both the appeals i.e. liability for payment oftax under the Interest Tax Act on finance charges received, is squarelycovered by decision of this court in I.T.A No.230 of 2002 and connectedcases dated 10.3.2008, we allow these appeals filed by the Revenue byreversing the order of the Tribunal and that of the first appellate authorityand by restoring the assessmenst.
C.N.RAMACHANDRAN NAIRJudge
pms
V.K.MOHANANJudge
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