https://www.taxtmi.com/caselaws?id=309498 The judgment clarified that compensation awarded under the Employees' Compensation Act should not be considered taxable income, emphasizing that interest payments should not be subject to income tax. It directed the Income Tax Officer to refund the TDS deducted by the Insurance Company on the interest component of the compensation and mandated the Insurance Company to pay the balance compensation along with interest. Failure to comply would result in the imposition of interest on the outstanding amount, highlighting the parties' obligations to adhere to the law and fulfill the compensation award. en-us Fri, 01 Jun 2018 00:00:00 +0530 Wed, 06 Sep 2023 08:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309498 The judgment clarified that compensation awarded under the Employees' Compensation Act should not be considered taxable income, emphasizing that interest payments should not be subject to income tax. It directed the Income Tax Officer to refund the TDS deducted by the Insurance Company on the interest component of the compensation and mandated the Insurance Company to pay the balance compensation along with interest. Failure to comply would result in the imposition of interest on the outstanding amount, highlighting the parties' obligations to adhere to the law and fulfill the compensation award. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309498