https://www.taxtmi.com/caselaws?id=418844 The court held that interest on motor accident compensation is taxable as it becomes capital once received by the claimant, rejecting the argument that interest income is part of compensation. Acknowledging conflicting views among High Courts, the court referred the question of taxability of interest on motor accident claim compensation to a Larger Bench for a definitive resolution, considering the significance and recurrence of the issue in various cases. en-us Fri, 18 Feb 2022 00:00:00 +0530 Fri, 25 Feb 2022 08:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418844 The court held that interest on motor accident compensation is taxable as it becomes capital once received by the claimant, rejecting the argument that interest income is part of compensation. Acknowledging conflicting views among High Courts, the court referred the question of taxability of interest on motor accident claim compensation to a Larger Bench for a definitive resolution, considering the significance and recurrence of the issue in various cases. Case-Laws Income Tax Fri, 18 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418844