https://www.taxtmi.com/caselaws?id=303934 The High Court upheld the Insurance Company's decision to deduct TDS on the interest paid as part of the compensation awarded by the Motor Accident Claims Tribunal. The Court clarified that TDS should be deducted on the entire interest amount as a lump sum, regardless of the period over which the interest is calculated. The claimants were advised to seek a refund from the Income Tax Department if they believed excess tax was deducted. The Court emphasized the strict interpretation of exemption provisions in favor of revenue, confirming the Insurance Company's liability to deduct TDS under relevant sections of the Income Tax Act. en-us Mon, 24 Jun 2019 00:00:00 +0530 Fri, 26 Aug 2022 08:35:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303934 The High Court upheld the Insurance Company's decision to deduct TDS on the interest paid as part of the compensation awarded by the Motor Accident Claims Tribunal. The Court clarified that TDS should be deducted on the entire interest amount as a lump sum, regardless of the period over which the interest is calculated. The claimants were advised to seek a refund from the Income Tax Department if they believed excess tax was deducted. The Court emphasized the strict interpretation of exemption provisions in favor of revenue, confirming the Insurance Company's liability to deduct TDS under relevant sections of the Income Tax Act. Case-Laws Income Tax Mon, 24 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303934