https://www.taxtmi.com/caselaws?id=795279 Interest earned on bank fixed deposits created from Motor Accidents Claims Tribunal compensation is distinct deposit income and does not retain the tax deduction at source exemption available for interest awarded on such compensation. The exemption under Section 194A(3)(ix) and (ixa) applies only to interest credited or paid on Tribunal-awarded compensation, not to subsequent bank interest after the compensation is deposited. In the absence of the required Form 15G particulars, tax was deducted from the deposit interest and remitted to the income-tax authorities. en-us Wed, 17 Jun 2026 00:00:00 +0530 Mon, 20 Jul 2026 09:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795279 Interest earned on bank fixed deposits created from Motor Accidents Claims Tribunal compensation is distinct deposit income and does not retain the tax deduction at source exemption available for interest awarded on such compensation. The exemption under Section 194A(3)(ix) and (ixa) applies only to interest credited or paid on Tribunal-awarded compensation, not to subsequent bank interest after the compensation is deposited. In the absence of the required Form 15G particulars, tax was deducted from the deposit interest and remitted to the income-tax authorities. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795279