Interest Awarded by MACT Not Chargeable Under Income Tax, Rules Gujarat HC

The Gujarat High Court Bench of Justices JB Pardiwala and Justice Nisha M Thakore have ruled that interest awarded by MACT (Motor Accident Claim Tribunal) u.s 171 of Motor Vehicles Act of 1988 will not be taxable under the Income Tax Act of 1961. In this case, the insurance company had deposited the TDS amount

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