2025 (9) TMI 245

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....ndent: Mr. Nishikant Sinha, Advocate ORDER ON BOARD Heard. 1) The petitioner has filed this petition seeking the following relief(s):- "10.a. That, the Hon'ble Court may kindly be pleased to allow the petition by setting-aside the impugned order dated 16.03.2023 (Annexure P/9) passed by First Additional District Judge, Durg (C.G.) in Execution Case No. 246/2019 holding it to ....

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.... the claimants preferred an appeal before this Court registered as MAC No. 407/2013. This Court, vide judgment dated 18.01.2019 (Annexure P/1), enhanced the compensation from Rs. 2,95,500/- to Rs. 12,08,000/-. In compliance, the petitioner-Insurance Company deposited Rs. 12,25,100/- (including interest) before the Tribunal on 12.03.2020 (Annexure P/5). The execution proceeding was initiated by the....

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....el for the petitioner submits that as per Section 194A(3)(ixa) of the Income Tax Act, deduction of TDS is exempted only when the interest payable on compensation awarded by the Motor Accident Claims Tribunal does not exceed Rs. 50,000/- in a financial year. He submits that in the present case, the interest component is Rs.3,90,700, far above the threshold, and therefore deduction of 20% TDS amount....

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....2,95,500/- with interest @ 6% per annum. This Court, vide judgment dated 18.01.2019 in MAC No. 407/2013, enhanced the compensation to Rs. 12,08,000/-. The petitioner thereafter deposited Rs. 12,25,100/- on 12.03.2020, after deducting Rs. 78,150/- towards TDS on the interest component of Rs.3,90,700. 7) Section 194A (3) (ixa) of the Income Tax Act reads as under: (3) The provisions of s....