Of Income-Tax v. C.n.ramachandran Nair Judge

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 27TH AUGUST 2009 / 5TH BHADRA 1931 THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM ITA.No. 1546 of 2009() ---------------------- ITA.763/COCH/2007 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ------------------------------ THE COMMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDENT: -------------------------- M/S.MULAMOOTIL CONSUMER CREDITS LTD., MUSEUM BAINS COMPOUND, NANTHANCODE, THIRUVANANTHAPURAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 27/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ON 27/08/2009, THE COURT ON THE SAME DAY DELIVERED THE C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ. ....................................................................I.T. Appeal No.1546 of 2009 ....................................................................Dated this the 27th day of August, 2009. JUDGMENT Ramachandran Nair, J. Since the issue raised i.e. liability for tax under the Interest TaxAct on the hire charges and finance charges received is covered infavour of the Revenue vide decision of this court in COMMISSIONER OF INCOME-TAX V. KERALA STATE FINANCIALENTERPRISES LTD. (220 CTR 286), following the said judgment weallow the appeal by reversing the order of the Tribunal and that of thefirst appellate authority and remand the matter to the Assessing Officerfor recomputation of liability in the light of the judgmentabovereferred, after issuing notice to the assessee and after serving acopy of this judgment on the assessee. C.N.RAMACHANDRAN NAIRJudge C.K.ABDUL REHIM Judge