https://www.taxtmi.com/caselaws?id=182779 In motor accident compensation claims, the rate of interest on compensation should be fixed on the facts of the case with reference to the prevailing bank rate, and the award was maintained at 9% per annum. For assessing loss of dependency, the structured formula in the Second Schedule should ordinarily be followed, but a just and fair assessment under the Motor Vehicles Act may account for future prospects where the deceased was young and in stable employment. The multiplier of 15 was accepted, while the yearly income was reassessed upward after deduction of one-third for personal expenses, resulting in enhanced compensation. en-us Fri, 14 Feb 2003 00:00:00 +0530 Thu, 19 May 2016 14:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182779 In motor accident compensation claims, the rate of interest on compensation should be fixed on the facts of the case with reference to the prevailing bank rate, and the award was maintained at 9% per annum. For assessing loss of dependency, the structured formula in the Second Schedule should ordinarily be followed, but a just and fair assessment under the Motor Vehicles Act may account for future prospects where the deceased was young and in stable employment. The multiplier of 15 was accepted, while the yearly income was reassessed upward after deduction of one-third for personal expenses, resulting in enhanced compensation. Case-Laws Indian Laws Fri, 14 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182779