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

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 depending upon whether t...