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 WEDNESDAY, THE 8TH JULY 2009 / 17TH ASHADHA 1931 ITA.No. 318 of 2009() --------------------- ITA.36/COCH/2002 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): --------------- ART LEASING LTD., CHENGANNUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 08/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. .................................................................... I.T.A. No.318 of 2009 .................................................................... Dated this the 8th day of July, 2009. JUDGMENT Ramachandran Nair, J. Since the issue raised in the appeal filed by the Revenue i.e. liability for tax under the Interest Tax Act on finance charges and hire charges is covered by our decision in COMMISSIONER OF INCOME-TAX V. KERALA STATE FINANCIAL ENTERPRISES LTD. reported in 220 CTR 286, we allow the department's appeal by reversing the orders of the Tribunal and that of the first appellate authority and restore the matter to the Assessing Officer for issuing notice to the assessee and for recomputing liability after giving opportunity to the assessee based on abovereferred judgment. The 2 Assessing Officer will forward a copy of this judgment to the assessee before revising the assessment. C.N.RAMACHANDRAN NAIR Judge C.K.ABDUL REHIM Judge pms