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2019 (6) TMI 1669 - HC - Income TaxTDS liability of Insurance company - Taxability of certain income - provision requiring the Insurance Company to deduct the TDS after spreading over the interest in number of years from the date of filing of the claim petition - HELD THAT:- This Court is of the considered opinion, that the Insurance Company is liable to deduct TDS on the interest paid by it as per the provisions of Section 194-A (3)(ix)(ix-a) of the Income Tax Act, and if the assessee is of the view, that the tax has been deducted in excess, then he can always claim refund of the same from the Income Tax Department. Accordingly, this Court is of the considered opinion that the Executing Claims Tribunal, committed material illegality by holding that the Insurance Company is not liable to deduct the TDS.
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