Of Income-Tax v. C.n.ramachandran Nairjudge

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 MONDAY, THE 3RD AUGUST 2009 / 12TH SRAVANA 1931 THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM ITA.No. 854 of 2009() --------------------- ITA.65/2004 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT ----------------------------- THE COMMISSIONER OF INCOME TAX ,TRICHUR BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S. SISCO KURIES & LOANS (P) LTD. KUNNAMKULAM, TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 03/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ. ....................................................................I.T. Appeal No.854 of 2009 ....................................................................Dated this the 3rd 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