Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Income Tax Cannot Be Levied On Interest From Motor Accident Compensation
14 Aug 2019 01:59 pm
In a significant judgment, the Bombay High Court has held that interest awarded on compensation in motor accident cases is not 'income' and therefore not liable to be taxed under the Income Tax Act 1961.
The ruling was given by a division bench of Justices Akil Kureshi and SJ Kathawalla on a writ petition filed by Rupesh Rashmikanth Shah, who was hit by a car 40 years ago at the tender age of eight and ended up being a paraplegic confined to his bed.
Shah filed the petition seeking Court's opinion whether income tax department was justified in taking away 30% of the interest on the compensation amount which was awarded 36 years after the accident.
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