IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.4 OF 2008 INCOME TAX APPEAL (LOD) NO.4 OF 2008 INCOME TAX APPEAL (LOD) NO.4 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. M/s.TCFC Finance Ltd. ..Respondent. Mr.P.S.Sahadevan for appellant. Mr.S.M.Shah for respondent. CORAM : V.C.DAGA AND CORAM : V.C.DAGA AND CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. DATED : 21ST APRIL, 2009. DATED : 21ST APRIL, 2009. DATED : 21ST APRIL, 2009. P.C. :- P.C. :- P.C. :- 1. Heard learned counsel for rival parties. By consent, the appeal is taken up for final hearing. 2. The appeal seeks to raise the following question of law :- " Whether on the facts and in the circumstances of the case, Tribunal is right in holding that the lease transactions entered into by the assessee were finance transactions and the finance charges received by the assessee is not in the nature of interest income and therefore tax cannot be levied ? " 3. Both counsel agree that the issue sought to be raised in the present appeal is covered by the Division Bench judgment of this Court in Commissioner Commissioner Commissioner of Income Tax V/s. Walfort Share and Stock Brokers of Income Tax V/s. Walfort Share and Stock Brokers of Income Tax V/s. Walfort Share and Stock Brokers P.Ltd. P.Ltd. P.Ltd. reported in [2009] 310 I.T.R. 421 [2009] 310 I.T.R. 421 [2009] 310 I.T.R. 421. In this view of the matter, the appeal is dismissed in limini with no order as to costs. (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (V.C.DAGA, J.) (V.C.DAGA, J.) (V.C.DAGA, J.)