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 TUESDAY, THE 28TH JULY 2009 / 6TH SRAVANA 1931 ITA.No. 679 of 2009() --------------------- ITA.92/COCH/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.LFC HIRE PURCHASE CO. P. LTD., SHORNUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 28/07/2009, ALONG WITH ITA NOS. 686 & 701/2009 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. Nos. 679,686 & 701 OF 2009 -------------------------------------------- Dated this the 28th day of July, 2009 JUDGMENT Ramachandran Nair,J. Since the issue involved, namely, liability for interest tax on finance charges under the hire purchase scheme is covered by our judgment in CIT V. KERALA STATE FINANCIAL ENTERPRISES LTD., 220 CTR 286, we allow the appeals by setting aside the orders of the Tribunal and that of the first appellate authority, and remand the matter back to the assessing officer for making fresh assessments under the Interest Tax Act based on the principles laid down in the above decision, after issuing notice to the assessees ;and after giving an opportunity of hearing to the assessees. The assessing officer will serve a copy of this judgment to the assessees before taking up assessments for revision. Appeals are disposed of as above. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) kk Judge. 2