https://www.taxtmi.com/caselaws?id=327287 The court, with the assistance of an amicus curiae, examined the issue of TDS deduction on interest income deposited with the Income-tax Department by an insurance company in compensation cases. After considering legal arguments and precedents, including a Himachal Pradesh High Court case distinguishing interest from compensation, the court concluded that compensation for death or injury is not subject to TDS. Relying on the restitutive nature of compensation and foreign court judgments, the court held that requiring claimants to pay tax on compensation, in addition to TDS deducted by the insurance company, is unjust. Consequently, the court set aside the orders directing TDS deduction on interest income, resolving the matter in favor of the insurance company. en-us Mon, 30 Nov 2015 00:00:00 +0530 Fri, 06 May 2016 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327287 The court, with the assistance of an amicus curiae, examined the issue of TDS deduction on interest income deposited with the Income-tax Department by an insurance company in compensation cases. After considering legal arguments and precedents, including a Himachal Pradesh High Court case distinguishing interest from compensation, the court concluded that compensation for death or injury is not subject to TDS. Relying on the restitutive nature of compensation and foreign court judgments, the court held that requiring claimants to pay tax on compensation, in addition to TDS deducted by the insurance company, is unjust. Consequently, the court set aside the orders directing TDS deduction on interest income, resolving the matter in favor of the insurance company. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327287