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Interest accrued from date of claim till passing of award in motor accident claim not taxable as income

August 14, 2019[2019] 108 181 (Bombay)

INCOME TAX : Interest awarded in motor accident claim cases from date of Claim Petition till passing of award or in case of Appeal, till judgment of High Court in such Appeal, would not be exigible to tax, not being an income. On any interest paid to him post judgment, tax had to be collected as income from other sources

• Further, section 194A is only a provision for deduction of tax at source and not a charging provision. Any provision for deduction of tax at source in the said section would not govern the taxability of the receipt. The question of deduction of tax at source would arise only if the payment is in nature of income of payee.

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