https://www.taxtmi.com/caselaws?id=417985 The court allowed the petition, setting aside the Tribunal's order to deposit the TDS amount again for compensation interest. It held that the Insurance Company had fulfilled its obligation by deducting and depositing TDS as required by law. The court emphasized that the TDS deposited represented the claimants' tax liability and should not lead to double payment. The judgment clarified the legal obligations under Section 194-A of the Income Tax Act and directed the release of the deposited amount with accrued interest to the Insurance Company. en-us Tue, 01 Feb 2022 00:00:00 +0530 Sat, 05 Feb 2022 22:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417985 The court allowed the petition, setting aside the Tribunal's order to deposit the TDS amount again for compensation interest. It held that the Insurance Company had fulfilled its obligation by deducting and depositing TDS as required by law. The court emphasized that the TDS deposited represented the claimants' tax liability and should not lead to double payment. The judgment clarified the legal obligations under Section 194-A of the Income Tax Act and directed the release of the deposited amount with accrued interest to the Insurance Company. Case-Laws Income Tax Tue, 01 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417985