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 29TH JUNE 2009 / 8TH ASHADHA 1931 ITA.No. 169 of 2009() --------------------- TA.15/2001 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT(S): APPELLANT ----------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S)/RESPONDENT: --------------- M/S.MUTHOOT LEASING AND FINANCE LTD., MUTHOOT CHAMBERS, BANERJI ROAD, COCHIN-18. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 29/06/2009, ALONG WITH ITS.173/2009 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. ----------------------------------- I.T.A. No. 169 & 173 of 2009 -------------------------------------- Dated this the 29th day of June, 2009 J U D G M E N T ---------------------- Ramachandran Nair,J. Since the question whether finance charges attract liability under the Interest Tax Act has been decided in the decision reported in Commissioner of Income Tax Vs. Kerala State Financial Enterprise and others (220 CTR 286), following the said decision, we allow the appeal by setting aside the Tribunal's order and remand the matter back to the assessing officer for computation of liability in accordance with the judgment above referred, after giving an opportunity of hearing to the assessee. Assessing officer will forward a copy of the judgment to the assessee along with notice. C.N.RAMACHANDRAN NAIR, JUDGE. C.K.ABDUL REHIM, JUDGE. okb