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 27TH JULY 2009 / 5TH SRAVANA 1931 ITA.No. 670 of 2009() --------------------- ITA.32/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT ----------------------------- THE COMMISSIONER OF INCOME TAX, KOTTAYAM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S.MULAMOOTTIL LEASING AND HIRE PURCHASE PVT.LTD, KOZHENCHERRY, PATHANAMTHITTA. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 27/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T. Appeal No.670 of 2009 .................................................................... Dated this the 27th day of July, 2009. JUDGMENT Ramachandran Nair, J. Since the issue raised i.e. liability for tax under the Interest Tax Act on the hire charges and finance charges received is covered in favour of the Revenue vide decision of this court in COMMISSIONER OF INCOME-TAX V. KERALA STATE FINANCIAL ENTERPRISES LTD. (220 CTR 286), following the said judgment we allow the appeal by reversing the order of the Tribunal and that of the first appellate authority and remand the matter to the Assessing Officer for recomputation of liability in the light of the judgment abovereferred, after issuing notice to the assessee and after serving a copy of this judgment on the assessee. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms