Supreme Court of India
Mahindra and Mahindra Financial Services Ltd v. State of U.P. and Ors
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the above discussion and for the reasons stat ed above, it is held that a financier of a motor vehicle/transport vehicle in respect of which a hire-purchase or lease or hypothecation agreement has been entered, is liable to tax from the date of taking p ossession of the said vehicle under the said agreement.
Judgment, page 22
From the headnote
U.P. Motor Vehicles Taxation Act, 1997 : ss. 2 (h), 4, 9, 10, 12 and 20 – Payment of tax – Non-use of vehicle and refund of tax – Financier of motor vehicle/transport vehicle in respe ct of which hire-purchase, lease or hypothecation agreement entered – Liability to pay tax from the date of taking possession of th e vehicle – Appellant – financier extended loan for purchase of transport ve hicle – However, due to default in payment, took back the po ssession of the vehicle – As regards, the liability to pay tax under the 1997 Act, the High Court held that the appellant being in posse ssion of
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