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TMI Blog2014 (9) TMI 48X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1961 in force for the relevant years - The insurance company has already deducted the tax on the entire interest amount as one lump sum amount – the SLP is relegated to the petitioner to submit appropriate application before the insurance company and point out the decision of the Division Bench of the Court. - SPECIAL CIVIL APPLICATION NO. 22454 of 2007 - - - Dated:- 1-8-2014 - MR. M.R. SHAH AND MR. K.J.THAKER, JJ. FOR THE APPELLANT : MR NIRAV C THAKKAR, ADVOCATE FOR THE RESPONDENT : MR DAKSHESH MEHTA, ADVOCATE JUDGEMENT Per: M R Shah: 1. By way of this petition under Article 226 of the Constitution of India the petitioners original claimants have prayed for the following reliefs: 7(B) To issue approp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pective claimant; (iii) Directing all the Motor Accident Claims Tribunals across the State of Gujarat, all the Insurance Companies and the Income Tax Act to apply provisions of the amendments in the Income Tax Act, 1961 prospectively; (iv) Directing all the Motor Accident Claims Tribunals across the State of Gujarat and the Insurance Companies to see that the amount of Tax deducted at source, if any, is deposited by the Insurance Companies in the name of the concerned claimants as per their liability of such tax; A grievance which is voiced in the present Special Civil Application seems to be that on the total amount of ₹ 3,97,001/received by the claimants towards the interest on the compensation awarded by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h amount/s as may be due to them out of the amount of interest on compensation which has been already deducted by the insurance company as tax deducted at source under the provisions of section 194A of the Income Tax Act, 1961. While disposing of the aforesaid civil application, the Division Bench issued the following directions. I. The Insurance Companies or the owners of the motor vehicles depositing the amounts in compliance with the awards of the Motor Accident Claim Tribunals shall (a) first spread the interest amount over to the relevant financial years for the period from the date of filing the claim petition till the date of deposit. (b) thereafter, if the interest for any particular financial year exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he certificate from the concerned incometax authority that there is no incometax liability on the interest which has accrued on the compensation awarded by the Tribunal. (iv) It is clarified that the amount other than the amount liable to be deducted at source under Section 194A(3)(ix) shall be invested/disbursed by the Tribunal. III. When the claimants make applications/representations before the authority under the Incometax Act, 1961 for refund of the amount deducted under the provisions of Section 194A(3)(ix) of the Act, the concerned authority shall decide such applications/representations within six months from the date of receipt of the applications/representations. The Division Bench has issued the further fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plication by relegating the petitioners to submit appropriate application before the insurance company and point out the decision of the Division Bench of this Court and we direct that after giving the claimants the details of the amounts of interest spread over the relevant financial years and the breakup amongst several claimants, the Insurance Company shall, within one month from the date of receipt of the application along with the certified copy of the present order, furnish to the claimants the certificate indicating the interest amounts computed for each year and with the breakup of the interest amounts payable to each claimant in each of those years as per the apportionment made. Thereafter, it will be open for the claimants to make ..... X X X X Extracts X X X X X X X X Extracts X X X X
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