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TMI Blog2022 (2) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... ave deducted tax at source thereon - divergent views amongst different High Courts on the point - HELD THAT:- In view of the position and also considering the importance of the issue as also the fact that the issue is a recurring one arising in large number of motor accident claim cases, it is desirable that there is an authoritative pronouncement on this question by Larger Bench. Under the cir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ident Claims Tribunal awarding compensation with interest. At the time of payment of such compensation the insurance company had deducted tax at source on the interest component. The petitioners contend that the interest is not taxable and insurance company ought not to have deducted tax at source thereon. Number of decisions have been brought to our notice by the counsel for the petitioners in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enefits only for the compensation, the rest of the amount of interest is deferred amount of compensation, therefore, the interest income is to be calculated from the date of application which was preferred and they are entitled for the interest from the date of application as directed by all courts but subject to income liable to be taxed every year. We notice divergent views amongst differen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and also considering the importance of the issue as also the fact that the issue is a recurring one arising in large number of motor accident claim cases, it is desirable that there is an authoritative pronouncement on this question by Larger Bench. Under the circumstances reference may be made to the Larger Bench on following question:- Whether the interest payable on motor accident claim ..... X X X X Extracts X X X X X X X X Extracts X X X X
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