https://www.taxtmi.com/caselaws?id=460555 SC held that HC correctly used income tax returns to determine deceased's monthly income but erred in calculating net income instead of gross income for compensation. Deceased earning Rs. 7,330 monthly was entitled to 30% increase for future prospects given age of 46 years. Multiplier of 13 applied for compensation calculation. Insurance company directed to pay compensation with 9% annual interest, apportioned equally between claimants, with 50% deposited in nationalized bank for 3 years. Appeal disposed. en-us Tue, 22 Apr 2014 00:00:00 +0530 Fri, 31 Jan 2025 18:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460555 SC held that HC correctly used income tax returns to determine deceased's monthly income but erred in calculating net income instead of gross income for compensation. Deceased earning Rs. 7,330 monthly was entitled to 30% increase for future prospects given age of 46 years. Multiplier of 13 applied for compensation calculation. Insurance company directed to pay compensation with 9% annual interest, apportioned equally between claimants, with 50% deposited in nationalized bank for 3 years. Appeal disposed. Case-Laws Indian Laws Tue, 22 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460555