Loading...
Responsive image

The Commissioner Of Income Tax vs Vyaparavijayam Hire Purchase Pvt … on 4 February, 2010

Kerala High Court
The Commissioner Of Income Tax vs Vyaparavijayam Hire Purchase Pvt … on 4 February, 2010
       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

ITA.No. 162 of 2009()


1. THE COMMISSIONER OF INCOME TAX,
                      ...  Petitioner

                        Vs



1. VYAPARAVIJAYAM HIRE PURCHASE PVT LTD.,
                       ...       Respondent

                For Petitioner  :SRI.JOSE JOSEPH, SC, FOR INCOME TAX

                For Respondent  :SRI.K.SRIKUMAR

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice P.S.GOPINATHAN

 Dated :04/02/2010

 O R D E R
                     C.N.RAMACHANDRAN NAIR &
                              P.S.GOPINATHAN, JJ.
                ....................................................................
                          I.T. Appeal No.162 of 2009
                ....................................................................
                 Dated this the 3rd day of February, 2010.

                                       JUDGMENT

Ramachandran Nair, J.

Heard Standing Counsel for the appellant and

Adv.Sri.K.Srikumar appearing for the respondent. The issue raised i.e.

liability for interest tax on finance charges collected by hire purchase

company is covered by our judgment in COMMISSIONER OF

INCOME-TAX VS. KERALA STATE FINANCIAL ENTERPRISES

LTD. reported in 220 CTR 286. Even though counsel for the

respondent cited decision of the Madras High Court in

COMMISSIONER OF INCOME-TAX VS. HARITA FINANCE LTD.

reported in (2006) 283 ITR 370, we have distinguished that judgment

in our judgment abovereferred. Therefore, following the judgment

abovereferred we allow the Revenue’s appeal by reversing the order of

2

the Tribunal and that of the first appellate authority and restore the

matter to the Assessing Officer for modification of assessment to the

extent required in terms of the judgment abovereferred.

C.N.RAMACHANDRAN NAIR
Judge

P.S.GOPINATHAN
Judge
pms

Leave a Comment

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *

Cookies help us deliver our services. By using our services, you agree to our use of cookies. More Information