https://www.taxtmi.com/caselaws?id=292377 Compensation under the Motor Vehicles Act must be assessed on the basis of just, fair and reasonable recompense. In applying that standard, the Court approved the High Court's method of calculating dependency loss by taking last drawn income, adding future prospects, deducting income tax and personal expenses, and applying the proper multiplier. It held that the ex gratia payment from the deceased's employer was not shown to be a continuing service-linked benefit and was therefore not deductible. The rate of interest reduced by the High Court to 7.5% per annum was also found reasonable. The compensation award was sustained and both cross-challenges failed. en-us Tue, 23 Apr 2019 00:00:00 +0530 Wed, 13 Nov 2024 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292377 Compensation under the Motor Vehicles Act must be assessed on the basis of just, fair and reasonable recompense. In applying that standard, the Court approved the High Court's method of calculating dependency loss by taking last drawn income, adding future prospects, deducting income tax and personal expenses, and applying the proper multiplier. It held that the ex gratia payment from the deceased's employer was not shown to be a continuing service-linked benefit and was therefore not deductible. The rate of interest reduced by the High Court to 7.5% per annum was also found reasonable. The compensation award was sustained and both cross-challenges failed. Case-Laws Indian Laws Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292377