2021 (10) TMI 73

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.... For the Respondent(s) : Mr J.H. Reshi, Advocate ORDER The instant application has been filed on behalf of applicants- claimants seeking release of an amount of Rs. 1,68,535/-, deducted by the non-applicant/Insurance Company on account of 20% TDS from the interest earned on the awarded amount. Mr N.H. Khuroo, learned appearing counsel for the non-applicant/ Insurance Company has raised an....

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....on 15th May, 2015 in C. Rev No. 63/2010, perusal whereof reveals that the appellant-Insurance Company has filed civil revision against the order passed by the Motor Accidents Claim Tribunal, Srinagar dated 17th March, 2020 as well as the order dated 31st March, 2010 in Execution Petition No. Misc.41, praying therein for direction to the petitioner to deposit the award amount in terms of the award ....

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....1961 and with reference to the judgments passed by the various High Courts and the Hon'ble Supreme Court of India, this Court allowed the revision partly by setting aside the award granting interest to the claimants after the deposit was made by the Insurance Company before this Court, however, declared the deduction of income tax made by the Insurance Company towards the interest paid, as erroneo....

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....g so, the High Court of Punjab and Haryana, relying on the judgment of the Division of High Court of Himachal Pradesh, has declared the order of the Tribunal in allowing the Insurance Company for deduction of the TDS on the interest amount, as unjust and cruel and while do so, has asked the Insurance Company to release the amount. Mr Reshi, learned counsel further submits that the deduction made b....