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Self-Employed Income Requires Up to Three-Year ITR Average for Motor Accident Compensation: SC

Case Law Details

Case Name
Rashmirekha Tripathy And Anr. Vs Branch Manager (Legal Claims) (Supreme Court of India)
Date of Judgement/Order
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Advertisement Rashmirekha Tripathy & Anr. Vs The Branch Manager (Legal Claims), Sriram General Insurance Company Limited & Ors. (Supreme Court of India) Supreme Court Lays Down Uniform Principles for Computing Income from ITRs in Motor Accident Compensation Cases In a significant judgment, the Supreme Court has settled the law on how Income Tax Returns (ITRs) should be considered while determining the income of a deceased or injured person for awarding compensation under the Motor Vehicles Act. The Court held that no rigid formula can be applied, and the approach must differ dependi...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,940

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