AswIn C. Patil Vs. Karnataka Election Commissioner and anr.

.....customers in respect of loans advanced - finding of the commissioner that additional interest collected by the assessee is chargeable to tax - held, the amounts so collected were not interest within the meaning of section 2(7) of the act and hence could not be treated as chargeable interest for the purpose of the act. as per section 26c it is clear that the said provision vests a credit institution with power to vary an agreement, with a borrower in respect of a term loan sanctioned prior to 1991, to increase the rate of interest stipulated to the extent of recouping its liability of interest tax. thus passing on the burden of the tax on its borrowers. the circumstance that the assessee having collected the liability of interest-tax from its borrowers in terms of the contractual obligation and not necessarily on the strength of section 26c is material. the further circumstance that the assessee had maintained a separate account in respect of the amounts, though collected as additional interest was in fact towards payment of interest-tax. the assessee has not collected any amount which were not authorised or expressly prohibited. the questions of law are answered in favour of the assessee and against the revenue. orderv. gopala gowda, j.1. since this writ petition can be disposed of at the preliminary hearing stage itself, sri k.n. phanindra is directed to take notice on behalf of first respondent.2. heard the learned counsel for the parlies.3. the petitioner is seeking a direction to the respondents to postpone the election or the kpsc examination as the same are scheduled on the same day. the grievance of the petitioner is that he is appearing for the examination conducted by the 2nd respondents for groups 'a' and 'b' posts and therefore he cannot cast his vote.4. the prayer sought for by the petitioner cannot be granted for more than one reason. as per the deccan herald newspaper annexure-a dated 5-2-2005, it is published that elections in gadag and haveri districts have been postponed to 27-2-2005. but the petitioner has filed this writ petition only today (25-5-2005). if really the petitioner was aggrived, he should have approached this court immediately after the news item in annexure-a. every arrangements have been made to conduct the elections and the examinations. hence, both the process cannot be stalled at this juncture. interference at this juncture will result in heavy loss to the exchequer and also inconvenience and hardship to the other students and the voters as also the staff involved for carrying out the two events.5. examination will be conducted by kpsc with a fixed timing. the petitioner may cast his vote either before the commencement of the examination or after attending the examination. in case he is unable to cast his vote on either way, he has to chose to attend any one either write the examination or cast vote in the election. the scheduled processes cannot be postponed because of a single person the petitioner. for the sake of the convenience of the petitioner, this court cannot direct postponement of either of the events.6. writ petition is frivolous and the same is liable to be dismissed for that reason and also on account of delay and.....