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 stated 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 possession 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 respect of which hire-purchase, lease or hypothecation agreement entered – Liability to pay tax from the date of taking possession of the vehicle – Appellant – financier extended loan for purchase of transport vehicle – However, due to default in payment, took back the possession of the vehicle – As regards, the liability to pay tax under the 1997 Act, the High Court held that the appellant being in possession of the…
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