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 6TH JULY 2009 / 15TH ASHADHA 1931 ITA.No. 285 of 2009() --------------------- ITA.34/COCH/2002 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: ---------------------------------------- THE COMMISSIONER OF INCOME TAX, KOTTAYAM. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S)/RESPONDENT: -------------------------------------------------- ART LEASING LTD., CHENGANNUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 06/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. ----------------------------------- I.T.A. No. 285 of 2009 -------------------------------------- Dated this the 6th day of July, 2009 J U D G M E N T ---------------------- Ramachandran Nair,J. Even though the case is coming for admission we feel the matter can be disposed of without notice to the respondent because the issue whether finance charges and hire charges attracts interest tax under the Interest Tax Act is squarely covered by a decision of this Court reported in Commissioner of Income Tax Vs. Kerala State Financial Enterprise and others (220 CTR 286). Therefore we allow the appeal filed by the Revenue by reversing the order of Tribunal and that of the first appellate authority on this issue but remand the matter to the assessing officer for issuing notice to the assessee and to recompute liability based on the decision of this Court above referred. The officer will issue a copy of this judgment to the assessee before revising the assessment and assessment will be revised only after the assessee is given effective opportunity. C.N.RAMACHANDRAN NAIR, JUDGE. C.K.ABDUL REHIM, JUDGE. okb