IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN FRIDAY, THE 27TH FEBRUARY 2009 / 8TH PHALGUNA 1930 ITA.No. 152 of 2008 --------------------- ITA.25/COCH/2003 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: -------------------------- THE COMMISSIONER OF INCOME-TAX, THIRUVANANTHAPURAM. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/RESPONDENT: ------------------------------- M/S TRANSWORLD HIRE PURCHASE INDIA LTD, BEACH ROAD, KOLLAM. BY ADV. SRI.S.ARUN RAJ THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 27/02/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & K. SURENDRA MOHAN, JJ. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I.T.A. No. 152 OF 2008 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 27th day of February, 2009 JUDGMENT Ramachandran Nair,J. Since the question raised is whether the finance charge assessable under the Interest Tax Act is covered by the decision of this Court reported in Commissioner of Income Tax v. Kerala State Financial Enterprises Ltd. and others [220 CTR 286], the appeal filed by the Revenue is allowed reversing the order of the Tribunal and restoring the assessment. (C.N.RAMACHANDRAN NAIR) Judge. (K. SURENDRA MOHAN) Judge. ttb