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 FRIDAY, THE 24TH JULY 2009 / 2ND SRAVANA 1931 ITA.No. 582 of 2009() --------------------- ITA.43/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... (S): -------------------- THE COMMISSIONER OF INCOME TAX,TRICHUR. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S VARTHAKAKSHEMAM HIRE PURCHASE & LEASING CO. (P) LTD.,TRICHUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 24/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- I.T.A. No. 582 OF 2009 -------------------------------------------- Dated this the 23rd day of July, 2009 JUDGMENT Ramachandran Nair,J. Since the issue raised stands decided in favour of the revenue subsequent to the order of the Tribunal vide decision in CIT V. KERALA STATE FINANCIAL ENTERPRISES LTD.,220 CTR 286, we set aside the order of the Tribunal and that of the first appellate authority and remand the matter to the assessing officer for recomputation of liability under the Interest Tax Act on finance charges and hire charges after issuing notice to the assessee and after serving them a copy of this judgment. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) Judge. 2 kk