2011 (9) TMI 586

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.... N. Kumar, J - This appeal was admitted to consider the following two substantial question of law: (i)  Whether the Appellate Authorities were correct in holding that the finance charges received by the assessee is not liable to tax under the provision of the Interest Tax Act, in the case of lease transactions entered into by the assessee with its customers where machinery was purchas....

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....t in the case of Commissioner of Interest-tax v. G.E. Capital Transportation [2007] 160 Taxman 329 (Delhi). In view of the aforesaid judgment and in view of the concurrent findings of the Commissioner of Income Tax Appeals and the Income Tax Appellate Tribunal, we have to answer the substantial question of law raised in this appeal against the revenue, based on the facts of this case." 3. Accor....