No Income Tax on pendente lite interest on compensation in motor accident cases, Bombay HCAugust 13 2019
In a notable judgement, the Bombay High Court has held that interest awarded on compensation in motor accident cases cannot be considered as taxable income under the Income Tax Act, 1961. As noted in the judgment passed by a Division Bench of Justices Akil Kureshi and SJ Kathawalla,
"...the interest awarded in the motor accident claim cases from the date of the Claim Petition till the passing of the award or in case of Appeal, till the judgment of the . . .
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