https://www.taxtmi.com/caselaws?id=10945 The High Court allowed the civil revision petition, emphasizing the insurance company's duty to deduct income tax on interest amounts exceeding Rs. 50,000. The court upheld the statutory obligation of deducting income tax at source and set aside the trial court's direction to deposit the entire amount without deduction. The judgment highlighted the importance of following statutory provisions and directed the petitioner to approach the relevant authority for tax assessment purposes, spreading the income over the relevant period. en-us Wed, 07 Jul 2004 00:00:00 +0530 Tue, 28 Jul 2009 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10945 The High Court allowed the civil revision petition, emphasizing the insurance company's duty to deduct income tax on interest amounts exceeding Rs. 50,000. The court upheld the statutory obligation of deducting income tax at source and set aside the trial court's direction to deposit the entire amount without deduction. The judgment highlighted the importance of following statutory provisions and directed the petitioner to approach the relevant authority for tax assessment purposes, spreading the income over the relevant period. Case-Laws Income Tax Wed, 07 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10945