No Income Tax on pendente lite interest on compensation in motor accident cases, Bombay HC

No Income Tax on pendente lite interest on compensation in motor accident cases, Bombay HC

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

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