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TMI Blog2018 (10) TMI 1949X X X X Extracts X X X X X X X X Extracts X X X X ..... eated to be a Commissioner, Employees' Compensation is kept open to be decided in appropriate case. In view of above analysis, since it was obligatory on the part of the insurance company under Section 203 of 1961 read with Section 194-A(3)(ix) of 1961 Act to deduct the income tax at source on income from interest which exceeded fifty thousand rupees during financial year when it is paid, the impugned order directing the petitioner/insurance company to deposit the amount so deducted is set aside. - W.P.No.3837/2016 - - - Dated:- 6-10-2018 - Sanjay Yadav, J. Mr. S.N. Gajendragadkar, learned counsel for the petitioner Mr. B.S. Bais, learned counsel for the respondent With the consent of learned counsel for the parties ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te of the amounts of such income credited or paid during the financial year does not exceed Fifty Thousand Rupees which is exempted. Whereas, in the case at hand since the award is passed under the Employees' Compensation Act 1923 by Commissioner, and not by the Motor Accident Claim Tribunal, the insurance company is not exempted from deducting the income arising from interest and exceeding, Fifty Thousand Rupees at source. On these contentions the petitioner seeks indulgence. Countering the contention it is urged on behalf of the respondents/claimants on the anvil of the expression resident which appears in Sub-Section (1) of Section 194-A read with the definition clause Section 2(42) of 1961 Act which defines the term resident ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Claims Tribunal where the amount of such income is credited or paid during the financial year does not exceed fifty thousand rupees. In the case at hand the apportionment of the compensation being not established and since the income from interest exceeds fifty thousand rupees during financial year, the act of the insurance company in deducting the income tax at source cannot be faulted. The issue as to whether the expression Accident Claims Tribunal can be treated to be a Commissioner, Employees' Compensation is kept open to be decided in appropriate case. In view of above analysis, since it was obligatory on the part of the insurance company under Section 203 of 1961 read with Section 194-A(3)(ix) of 1961 Act to deduct the i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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