https://www.taxtmi.com/highlights?id=85417 SC upheld the Tribunal's compensation award in a motor accident death claim, restoring Rs. 58,24,000/- for father and Rs. 93,61,000/- for mother against claimed amounts of Rs. 1 crore each. The court endorsed Tribunal's assessment of Rs. 60,000/- monthly income for each deceased parent as reasonable, rejecting appellants' claims of higher earnings (Rs. 25 lakh and Rs. 20 lakh annually). The decision considered business succession limitations, noting that heirs' inexperience could affect future earnings. The court relied on established precedent regarding Income Tax Returns as reliable evidence for income assessment. HC's judgment was overturned for deviating from settled legal principles. en-us Mon, 03 Feb 2025 08:13:17 +0530 Mon, 03 Feb 2025 08:13:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85417 SC upheld the Tribunal's compensation award in a motor accident death claim, restoring Rs. 58,24,000/- for father and Rs. 93,61,000/- for mother against claimed amounts of Rs. 1 crore each. The court endorsed Tribunal's assessment of Rs. 60,000/- monthly income for each deceased parent as reasonable, rejecting appellants' claims of higher earnings (Rs. 25 lakh and Rs. 20 lakh annually). The decision considered business succession limitations, noting that heirs' inexperience could affect future earnings. The court relied on established precedent regarding Income Tax Returns as reliable evidence for income assessment. HC's judgment was overturned for deviating from settled legal principles. Highlights Indian Laws Mon, 03 Feb 2025 08:13:17 +0530 https://www.taxtmi.com/highlights?id=85417