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Issues: Whether interest awarded under section 110CC of the Motor Vehicles Act, 1939, on compensation for motor accident claim is a revenue receipt exigible to income-tax.
Analysis: The statutory scheme of section 110CC permits the Claims Tribunal to award simple interest in addition to compensation from a date not earlier than the date of the claim. The right to interest therefore arises from the statute itself and is distinct from compensation for injury or disability. The interest is awarded for the period during which the claimant is deprived of the use of the money and, in the circumstances of the case, does not form part of the capital compensation for the accident injury.
Conclusion: The interest of Rs. 5,757 awarded under section 110CC of the Motor Vehicles Act, 1939, was rightly treated as a revenue receipt and was exigible to tax.
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