TaxTMI 
TaxTMI 
2022 (2) TMI 348
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....s Vmz Chambers, AOR Mr. Ravindra A. Lokhande, Adv. Dr. Abhishek Atrey, AOR Ms. Ambika Atrey, Adv. Dr. Vidyottma Jha, Adv. Ms. Deepanwita Priyanka, AOR Dr. Monika Gusain, AOR Mr. Abhimanyu Tewari, AOR Ms. Eliza Bar, Adv. Mr. Ankur S. Kulkarni, AOR Mr. Susheel Joseph Cyriac, Adv. Ms. Uditha Chakravarthy, Adv. Mr. Raj Kamal, AOR Mr. V. N. Raghupathy, AOR Mr. Md. Apzal Ansari, Adv. Mr. G. Prakash, AOR Mr. Mukul Singh, DAG Mr. Pashupathi Nath Razdan, AOR Mr. Prakhar Srivastav, Adv. Ms. Sneh Bairwa, Adv. Mr. Aakash Sinha, Adv. Mr. Rahul Chitnis, Adv. Mr. Sachin Patil, AOR Mr. Aaditya A. Pande, Adv. Mr. Geo Joseph, Adv. Ms. Shwetal Shepal, Adv. Mr. Pukhrambam Ramesh Kumar, AOR Ms. Anupama Ngangom, Adv. Mr. Karun Sharma, Adv. Mr. Avijit Mani Tripathi, AOR Ms. Tarini K. Nayak, Adv. Ms. P.S. Negi, Adv. Mr. Daniel Lyngdoh, Adv. Mr. Siddhesh Kotwal, Adv. Ms. Ana Upadhyay, Adv. Ms. Manya Hasija, Adv. Ms. Pragya Barsaiyan, Adv. Mr. Akash Singh, Adv. Mr. Nirnimesh Dube, AOR Ms. K. Enatoli Sema, AOR Ms. Chubalemla Chang, Adv. Mr. Som Raj Choudhury, AOR Mr. Milind Kumar, AOR Mr. Sameer Abhyankar, AOR Dr. Joseph Aristotle S., AOR Ms. Preeti Singh, Adv. Ms. Nupur Sharma, Adv. Mr. Sanjeev Kumar Mahara....
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....his fact. Now coming to some of the aspects pointed out to us, which we propose to address: 1) TDS Learned ASG has pointed out that insofar as our direction (v) of our order dated 16.11 2021 we had dealt with the aspect of Tax Deduction at Source (TDS) in Motor Accident Claims at two different rates from 10% to 20%. Learned ASG points out that uniform system is being brought in place whereby TDS will be uniformly 10% for all categories. Mr. Vijayaraghavan, learned Amicus Curiae assisting us points out that there are large amounts of TDS deducted at source where the claimants are not fully aware how to obtain that amount. This may be arising on account of the fact that a number of such claimants may not even be assessees as they come from different economic strata of the society. Mr. Vijayaraghavan, learned Amicus Curiae points out that amounts in this behalf may be running into hundreds of crores. We thus call upon learned ASG to look into this aspect and work out a system whereby this problem can be dealt with. A suggestion made by learned Amicus Curiae is that where TDS is applied as per Section 194-A of the Income Tax Act, 1961, the insurance ....
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.... period absolutely clear to him. In view of role being played by the NIC, Mr. Jayant Sud will also obtain instructions from the NIC as to what role NIC is playing to incorporate in the part of his report for us to make sure that it is not a red herring. Mr. N.L. Raja, learned senior counsel who also assists us in this matter submits that as per international practices there is a Chief Technical Officer who helps in sorting out the issues on behalf of insurance companies in different countries and he would understand the technical nuances. He suggests that there should be one Chief Technical Officer to deal with these issues on behalf of all the insurance companies, a suggestion which Mr. Nanda accepts. We thus direct that such a Chief Technical Officer be appointed by the GIC on behalf of all insurance companies within a period of two weeks from today as accepted by Mr. Nanda. We may notice the submission of learned counsel for the petitioner Bajaj Allianz General Insurance Company Private Ltd. that they have such a technical officer whose services can be made available. However, that is a call which the GIC will take. (4) FUND POOL FOR NON INSURED STATE ....
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....e of funds and Madras High Court is in seisin of the matter. In view of the inevitable time lag between deposit of the award and actual disbursement, it is stated that accrued interest arising in savings Bank Accounts (something which we intended to benefit the claimants), there appears to be a stated problem in coordinating the exact accrued interest amounts with the claims and it is submitted that the total accrued interest in 328 MACTs in the State of Tamil Nadu and Puducherry is more than Rs. 40 crores. This fund is thus stated to be just lying in the account which is not disbursed and there is lack of proper identification as to whom the amount should be disbursed. Misuse of these amounts has come to light to the extent of 1.5 crores and 33 lakhs in two MACT courts and the matter as stated above is being investigated under the supervision of the Maras High Court. On the reading of the aforesaid suggestion it thus appears that the MACT Court seems to be seeking to wash their hands off because of the amounts being deposited in the Courts. That itself cannot require a change of direction as responsibilities have to be performed. However, the alternative suggestion made is t....