motor accident Compensation

raja athimoolam (Querist) 03 August 2010 This query is : Resolved
Whether the interest received for payment on motor accident Compensation of MACT claim is taxable or not? Please tell me citations if any.

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adv. rajeev ( rajoo ) (Expert) 03 August 2010
It is taxable, there is no citation for this.

s.subramanian (Expert) 09 August 2010
yes. i concur

raja athimoolam (Querist) 10 August 2010
sir, Now i learned that as per the below citation the interest received for payment on motor accident Compensation is not taxable. (2005) 96 TTJ Delhi 589
Oriental Insurance Company Ltd. vs Income Tax Officer on 27/9/2004.

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