https://www.taxtmi.com/caselaws?id=289016 Compensation under the Life Insurance Corporation Act must be computed by linking surplus to the actuarial investigation periods and by calculating the annual average on a year-wise aggregate basis. The statutory scheme also permits reciprocal adjustment, so the Corporation may set off the amount representing assets appertaining to the controlled business against compensation payable. Interest may be awarded on unpaid compensation even without an express provision, and in this matter it was confined to the balance after set-off, at simple interest from 14 February 1957. en-us Tue, 11 Dec 1962 00:00:00 +0530 Thu, 09 Jul 2020 18:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289016 Compensation under the Life Insurance Corporation Act must be computed by linking surplus to the actuarial investigation periods and by calculating the annual average on a year-wise aggregate basis. The statutory scheme also permits reciprocal adjustment, so the Corporation may set off the amount representing assets appertaining to the controlled business against compensation payable. Interest may be awarded on unpaid compensation even without an express provision, and in this matter it was confined to the balance after set-off, at simple interest from 14 February 1957. Case-Laws Indian Laws Tue, 11 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289016