9911796707
TMI Blog2022 (2) TMI 236X X X X Extracts X X X X X X X X Extracts X X X X ..... respondents were sent notices under registered cover on 22nd May, 2017 but the same have not been received back served or un-served. Statutory period is long back over and there is no representation on behalf of the respondent Nos. 1 to 4. They are, therefore, set ex-parte. 2. The order dated 29.03.2017 passed by the Motor Accident Claims Tribunal, Kathua ["the Tribunal"] in execution petition t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Insurance Company is duty bound to deduct the tax at source on the interest component of the compensation awarded by the Tribunal where it exceeds Rs. 50,000/- in any financial year. It is submitted that in the instant case the interest component was exceeding Rs. 50,000/- and, therefore, in terms of Section 194-A of the Income Tax Act, the Insurance Company deducted a sum of Rs. 44,662/- on accou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt thereof in cash, or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income tax thereon at the rates in force: Provided that: (3) The provisions of sub-section (1) shall not apply:- (i") to (viii) (ix) to such income credited or paid by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal where the amount of such incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as carried out the mandate of Clause (ix) of Section 194-A of the Income Tax Act and has not committed any illegality. 9. Interestingly, the Tribunal has taken note of the fact that the TDS deducted by the petitioner has been deposited and Form-16-A too has been produced, yet the Tribunal has called upon the Insurance Company to deposit the amount again with it so that same is disbursed to the cl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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