https://www.taxtmi.com/caselaws?id=252486 The court ruled in favor of the petitioners, quashing the Income Tax Circular that mandated tax deductions on award amounts and interest accrued on court-ordered deposits in Motor Accident Claims cases. The respondents were directed to refund any deductions made, with interest at 12% from the date of deduction until payment, within six weeks. The court emphasized that compensation under the Motor Vehicles Act is not taxable income but serves to provide relief for victims of vehicular accidents. en-us Thu, 15 May 2014 00:00:00 +0530 Mon, 27 Oct 2014 07:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252486 The court ruled in favor of the petitioners, quashing the Income Tax Circular that mandated tax deductions on award amounts and interest accrued on court-ordered deposits in Motor Accident Claims cases. The respondents were directed to refund any deductions made, with interest at 12% from the date of deduction until payment, within six weeks. The court emphasized that compensation under the Motor Vehicles Act is not taxable income but serves to provide relief for victims of vehicular accidents. Case-Laws Income Tax Thu, 15 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252486