https://www.taxtmi.com/caselaws?id=449187 Patna HC set aside Motor Accidents Claims Tribunal's order directing insurance company to refund TDS deducted on interest from compensation award. Court held TDS under Section 194A(1) was validly deducted as interest income accrues only on payment/credit date, not spread over years. Tribunal's refund direction was unsustainable since proper remedy is refund application if claimant lacks taxable income. Court noted Section 194A(3)(ix) amendment from 01.06.2015 exempts TDS on MACT compensation interest. Writ petition allowed, tribunal application closed as not maintainable. en-us Fri, 14 Jul 2023 00:00:00 +0530 Wed, 07 Feb 2024 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449187 Patna HC set aside Motor Accidents Claims Tribunal's order directing insurance company to refund TDS deducted on interest from compensation award. Court held TDS under Section 194A(1) was validly deducted as interest income accrues only on payment/credit date, not spread over years. Tribunal's refund direction was unsustainable since proper remedy is refund application if claimant lacks taxable income. Court noted Section 194A(3)(ix) amendment from 01.06.2015 exempts TDS on MACT compensation interest. Writ petition allowed, tribunal application closed as not maintainable. Case-Laws Income Tax Fri, 14 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449187