Delhi HC asks CBDT to consider if interest on compensation by Motor Accident Claim Tribunal can be non-taxableApril 16 2019
The Delhi High Court today directed Central Board of Direct Taxation (CBDT) to consider if the interest accrued upon the compensation awarded by the Motor Accident Claim Tribunal (MACT) can be declared non-taxable.
A Division Bench of Justices S Muralidhar and IS Mehta was hearing a petition seeking to quash Section 194 A (3) (ix) of Income Tax Act, 1961. The Section mandates deduction of tax on the interest accrued upon the award/compensation granted by the MACT.
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