Financier Liable to Pay Vehicle Tax from date of Taking Possession for Loan default: SC

Mahindra and Mahindra Financial Services Ltd. Vs State of U.P. (Supreme Court)

As per Section 2(h) of the Act,1997 read with Section 2(30) of the Act, 1988, even a person in possession of the vehicle under the hire-purchase agreement or an agreement of sell or an agreement of hypothecation can also be said to be the ‘owner’. Therefore, a financier like the appellant, who is in possession of the transport vehicle in question owing to non-payment of the loan amount is an “owner” under the relevant provisions of

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