Supreme Court to Decide on Taxability of Interest from Motor Accident Claims; ITAT Awaits Guidance u/s 158A.

Application u/s 158A - special provision for avoiding repetitive appeals - question regarding taxability of interest on compensation awarded by the Motor Accident Claims as capital or revenue is pending before Supreme court - ITAT directed AO to apply the directions of the Hon’ble Supreme Court as soon as the same is pronounced. .....

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