https://www.taxtmi.com/caselaws?id=303783 Interest on compensation awarded by a Motor Accident Claims Tribunal was treated as part of the compensation until actual receipt, and for the relevant pre-amendment period it was not regarded as taxable revenue income in the claimant's hands. The later insertion of clause (ixa) in Section 194A(3) clarified that tax deduction at source applies only when such interest is actually paid and the annual paid amount exceeds the prescribed threshold. On that basis, deductions made before 01.06.2015 were inconsistent with the court's applied legal position, while post-01.06.2015 payments crossing the threshold could attract deduction. The impugned deduction orders were set aside and the matters remanded for determination of payment date and threshold compliance. en-us Thu, 08 Aug 2019 00:00:00 +0530 Fri, 12 Aug 2022 20:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303783 Interest on compensation awarded by a Motor Accident Claims Tribunal was treated as part of the compensation until actual receipt, and for the relevant pre-amendment period it was not regarded as taxable revenue income in the claimant's hands. The later insertion of clause (ixa) in Section 194A(3) clarified that tax deduction at source applies only when such interest is actually paid and the annual paid amount exceeds the prescribed threshold. On that basis, deductions made before 01.06.2015 were inconsistent with the court's applied legal position, while post-01.06.2015 payments crossing the threshold could attract deduction. The impugned deduction orders were set aside and the matters remanded for determination of payment date and threshold compliance. Case-Laws Income Tax Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303783