https://www.taxtmi.com/caselaws?id=216780 Interest paid on delayed compensation under Motor Accident Claims awards, for the period before 1.6.2003, was held not to constitute "interest" within section 2(28A) of the Income-tax Act because the payment arose from statutory compensation for loss, not from money borrowed, debt incurred, or a similar obligation. As a result, no tax deduction at source was attracted under section 194A on such interest. The later insertion of section 194A(3)(ix) was treated as consistent with the view that the earlier law did not cover these payments for TDS purposes. en-us Thu, 13 Sep 2012 00:00:00 +0530 Thu, 20 Sep 2012 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216780 Interest paid on delayed compensation under Motor Accident Claims awards, for the period before 1.6.2003, was held not to constitute "interest" within section 2(28A) of the Income-tax Act because the payment arose from statutory compensation for loss, not from money borrowed, debt incurred, or a similar obligation. As a result, no tax deduction at source was attracted under section 194A on such interest. The later insertion of section 194A(3)(ix) was treated as consistent with the view that the earlier law did not cover these payments for TDS purposes. Case-Laws Income Tax Thu, 13 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216780