9911796707
TMI Blog2010 (5) TMI 469X X X X Extracts X X X X X X X X Extracts X X X X ..... JUDGMENT N.K. Patil, J. - These two Interest Tax Appeals arise out of the impugned common order dated 2-6-2006 passed in Interest Tax Appeal Nos. 24 25/Bang/2003 by the Income-tax Appellate Tribunal, Bangalore Bench A , on the following substantial question of law : "(I) Whether the Appellate Authorities were correct in holding that the Assessee had entered into only a hire, purchase transaction with third parties and therefore no interest was received by the Assessee in order to attract Interest Tax Provisions. (II) Whether the Appellate Authorities were correct in holding that the Interest Tax Act was not applicable without properly appreciating the judgment of the Apex Court in AIR 1966 SC 1178. (III) Whether the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of instalments, the agreement can be terminated and the vehicle will be transferred to the name of assessee. Accordingly, the Assessing Authority, after considering the relevant material available on file, passed the order. Assailing the correctness of the order passed by the Assessing Authority, the assessee filed the first appeal before the Commissioner of Income-tax (Appeals) in Proceedings No. Int. Tax Appeal Nos. 5 6/R-11/CIT(A)-I/2001-02 respectively. The said authority, in turn, allowed the appeals filed by the assessee. Assailing the correctness of the said order passed by the Commissioner of Income-tax (Appeals)-I, Bangalore, the Income-tax Officer, Ward 11(1), Bangalore, filed an appeal before the Income-tax Appellate Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the learned counsel for appellants may be considered and appropriate order may be passed, in accordance with law. 5. After careful consideration of the submission of the learned counsel for the parties, the only point that arises for our consideration in these appeals is : "Whether the impugned common order passed by the Tribunal is sustainable in law ?" After perusal of the impugned common order passed by Tribunal, it is manifest on the face of the same that the Tribunal has dismissed the appeals filed by the Income-tax Officer, Ward 11(1), Bangalore, without going into the merits of the case and the grounds urged by the said authority. It has proceeded straightaway by following the decisions of the Bangalore Bench of the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X
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