BRANCH MANAGER Vs. K.THEIVANAI

JUDGEMENT

(1.) All these four Civil Revision Petitions have been filed by Insurance Companies aggrieved by the orders of attachment passed by the Executing Courts in respect of the award amounts passed by the Motor Accident Claims Tribunal.

(2.) In all these cases, it is admitted that the compensation amount awarded by the Tribunal has become final and it has also been paid, save the interest amount on TDS. The dispute revolves only around the amount of TDS to be deducted in respect of the interest portion of the amount, namely 7.5% per annum, which has to be paid. The issue regarding payment of TDS to be deducted on such interest is pending before the Larger Bench of this Court. It is also brought to my notice that the same issue is also before the Hon'ble Supreme Court of India in W.P(Civil) No.534 of 2020.

(3.) The learned counsel for the Insurance Company has also placed reliance on the judgment of this Court in Cholamandalam MS General Insurance Co. Ltd., Legal Department, Chennai 600 001 reported in 2020(4) CTC 53. In the said decision, this Court has held that all the Execution Petitions relating to and confined to the issue of Tax Deduction at Source under Sec. 194-A of the Income-tax Act, 1961 shall stand stayed and await orders from the Larger Bench of this Court on the applicability of Sec. 194-A of Income-tax Act, 1961 and the mode and manner of application of the same will be in terms of final orders that will be passed by the Larger Bench.