National Insurance Co. Ltd. v. Pranay Sethi

M/S Bangalore Electricity Supply Company Limited vs. The Assistant Commissioner of Income Tax

In the result, we pass the following:

Bench: SATISH CHANDRA SHARMA,S VISHWAJITH SHETTY

…efore the multiplier that is applicable is -: 9 :- 15 as observed in Smt. Sarla Verma Vs. Delhi Transport corporation reported in 2009 ACJ 1298. As per the law laid down in National Insurance Company Ltd. Vs. Pranay Sethi, reported in (2017) 16 SCC 680, 40% of the established income is required to be added towards loss of future prospects. Since the claimant has left behind four dependents, 1/4th of his income is required to be deducted towards personal expenses. Accordingly the loss of dependency which is inclusive of loss of future prospects is required to be recomputed as follows:…

Mr.Kotagiri Vidyadhara Rao vs. Assistant Commissioner of Income Tax, Central Circle-3

The appeals stand disposed of

Bench: T.VINOD KUMAR,M.S.RAMACHANDRA RAO

…of income keeping in view the fact that the deceased had permanent job and was below 40 years. The court is of the view that the same does not require any correction in view of the judgment passed in National Insurance Company Ltd. V. Pranay Sethi, (2017) 16 SCC 680. The victim was of 35 years of age at the time of death and that is not in dispute and, therefore, the court finds that the Tribunal has not erred in adding 50% of the actual salary to the income of the deceased towards future prospects. 7. The claim is preferred on behalf of the parents, wife and the minor children of the deceased, who was…

The Pr Commissioner Ofincome Tax vs. M/S S N Builders and Developers

Bench: The Hon'Ble Mr Justice Hanchate Sanjeevkumar Miscellaneous First Appeal No. 739 Of 2018 C/W Miscellaneous First Appeal No. 8111 Of 2018(Mv-D)

…ion of Rs.16,500/- (Rs.15,000/- + 10% escalation) is awarded towards Transportation of dead body and funeral expenses as against Rs.10,000/- awarded by the Tribunal. 1 2018 ACJ 2782 2 (2017) 16 SCC 680 - 15 - NC: 2024:KHC:3701 MFA No. 739 of 2018 C/W MFA No. 8111 of 2018 16. The Tribunal has not awarded compensation under the head loss of estate. Hence, compensation of Rs.16,500/- (Rs.15,000/- + 10% escalation) is awarded towards loss of estate. 17. Thus, in all the claimants are entitled to total compensation determined…

Pr Commissioner of Income Tax 6 vs. Shri M R Seetharam

The appeal is disposed of with the following

Bench: The Hon'Ble Dr. Justice Chillakur Sumalatha Miscellaneous First Appeal No.285 Of 2016 (Mv-D) Between: 1. Smt. G. Komala, W/O. Late Gopalappa, Aged About 48 Years, 2. G. Thojs, S/O. Late C.V. Gopalappa, Aged About 22 Years, 3. G. Mithun, S/O. Late C.V. Gopalappa, Aged About 20 Years, 4. Sri. Venkateshappa, S/O. Late Muninanjappa, Aged About 75 Years, All Are R/At K.G. Halli, Tekal Hobli, Malur Taluk, Kolar District. …Appellants (By Smt. Suguna R. Reddy, Advocate) And: Managing Director, Tamil Nadu State Transport Corporation (Salem) Ltd., Digitally Signed By Aaseefa Parveen Location: High Court Of Karnataka

…the deceased was aged about 53 years by the date of accident. - 5 - NC: 2025:KHC:6984 MFA No. 285 of 2016 Therefore, as per the decision of Hon'ble Apex Court in National Insurance Company Limited v. Pranay Sethi and Others reported in (2017) 16 SCC 680, 10% of the earnings are required to be added towards future prospects. The dependants are admittedly four in number. Therefore, 1/4th of the earnings are required to be deducted towards personal and living expenses which the deceased would have incurred for himself had he been alive as per the decision of the Hon'ble Apex Court in Sarla Ver…

M/S Vijay Group of Companies vs. Learned Income Tax Appellate Tribunal

Bench: GOVERDHAN BARDHAR,MANOJ KUMAR VYAS

The Commissioner of Income Tax vs. M/S Kalyani Steels Ltd

Bench: The Hon'Ble Mr Justice Anant Ramanath Hegde

…% income tax] 5. At the same time, it is to be noticed that the compensation under the conventional heads has to be assessed following the ratio laid down in the case of NATIONAL INSURANCE COMPANY LIMITED VS. PRANAY SETHI AND OTHERS reported in (2017) 16 SCC 680 6. Thus, the total compensation payable would be as under: Sl.No. Heads Amount [In Rupees] 1. Loss of dependency 37,17,220-00 2. Loss of estate 18,000-00 3. Funeral expenses 15,000-00 4. Loss of consortium 44,000-00 Total compensation 37,94,220-00 Less: awarded by Tribunal 35,79,500-00 Enhance…

The Commissioner of Income Tax vs. Shri Basant Poddar

Bench: The Hon’Ble Mr. Justice Nataraj Rangaswamy Miscellaneous First Appeal Crob. No.77 Of 2010 (Mv-D) In Miscellaneous First Appeal No.2458/2010

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 07TH DAY OF OCTOBER 2020 BEFORE THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY MISCELLANEOUS FIRST APPEAL CROB. NO.77 OF 2010 (MV-D) IN MISCELLANEOUS FIRST APPEAL No.2458/2010 BETWEEN: 1. SMT. CHANDRAKALA B. SHETTY W/O LATE BALAKRISHNA SHETTY AGED ABOUT 46 YEARS RESIDING AT LAXMINAGAR APARTMENTS, NEAR P.V.S. BUILDING, MANGALORE – 575 001. 2. KUM. SHAMIKA D/O LATE BALAKRISHNA SHETTY, AGED ABOUT 22 YEARS, RESIDING AT LAXMINAGAR APARTMENTS, NEAR P.V.S. BUILDING, MANGALORE-575 002. ... CROSS OBJECTORS (BY SRI. NI…

The Principal Commissioner of Income Tax-II vs. Lg Trinadha Rao

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

Pr Commissioner of Income Tax-2 vs. Visakha Container Terminal Pvt Ltd

Appeal stands allowed

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…and thereafter the Tribunal should have been proceeded to quantify the amount of compensation taking into consideration the direction given by the Hon’ble Supreme Court in the case of National Insurance Co. Ltd. Vs. Pranay Sethi and others, reported in (2017) 16 SCC 680. He fairly submits that the Tribunal has enhanced the amount of compensation by 50% on account of future prospect, which, in fact, should be 40%. He further submits that there were four dependents of the deceased, thus the deduction should be 1/4th and not 1/3rd. 4. Learned counsel for the Insurance Company submits that the Tribunal has r…

The Prl Commr of Income Tax-II vs. L.G.Trinadha Rao

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

The Prl Commissioner of Income Tax-II, Visakhapatnam vs. L.G Trinadha Rao, Visakhapatnam

Appeal is dismissed

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…under the conventional head has been provided on the lesser side and according to him, it should be at least Rs.70,000/- in light of the judgment of Hon’ble Supreme Court in the case of National Insurance Company Limited v. Pranay Sethi reported in (2017) 16 SCC 680, however, only Rs.30,000/- has been allowed. 10. In view of above submission of learned counsel appearing for the parties the Court has gone through the materials on record including the trial court record. From the trial court record, it transpires that registration certificate, the motor vehicle tax fitness certificate and permit have…

Principal Commissioner of Income Tax - 2 vs. M/. Visakha Container Terminal Pvt Ltd

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…with the settled principles laid down by the Hon’ble Supreme Court for determining just and fair compensation under the Motor Vehicles Act. 26. Relying further in the matter of National Insurance Company Limited v. Pranay Sethi and Others, (2017) 16 SCC 680, 15% of the established income was added towards future prospects, which comes to Rs.5,53,573/-. 18 27. Further, the scope of 'consortium' has been subsequently explained by the Apex Court in Magma General Insurance Company Limited v. Nanu Ram Alias Chuhru Ram & Others, (2018) 18 SCC 130. It can be of three types; P…

Principal Commissioner of Income Tax - 2 vs. M/s. Visakha Container Terminal Pvt Ltd

The appeal is hereby dismissed

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…awarded Rs. 3,50,000/- under various conventional heads instead of Rs. 70,000/-, which is the amount held to be reasonable by the Hon’ble Supreme Court in the landmark judgment of National Insurance Co. Ltd. Vs. Pranay Shetty, reported in (2017) 16 SCC 680. This results in an excessive and unwarranted enhancement of compensation beyond the scope of the law. While assessing the income of the deceased, the Tribunal erred in not deducting income tax from the gross income. The net income after tax is the proper basis for calculating compensation, and failure to do so has inflated the amount p…

Pr.Commissioner of Income Tax-2 vs. M/S.Keerthi Estates Pvt Ltd

Bench: M.GANGA RAO,RAMESH RANGANATHAN

…In the light of the judgments of the Hon’ble Supreme Court in the cases of Sarla Verma (Smt.) and others vs. Delhi Transport Corporation and another reported in (2009) 6 SCC 121, National Insurance Company Ltd., Vs. Pranay Sethi and Others, (2017) 16 SCC 680 and Magma General Insurance Co. Ltd. v. Nanu Ram @ Chuhru Ram & Ors; (2018) 18 SCC 130, the compensation is being recomputed as below:- Sl. No. Particulars Calculation 1. Monthly income of the deceased 26783 2. Yearly income 321396 3. Future prospects(15% of the income) 48209.4 in round figure 48209 4. Total 369605 5. Income Tax 18961…

Principal Commissioner of Income Tax-2, Hyderabad vs. M/S Ta Infra Projects Ltd., Hyderabad

The appeal is partly allowed

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…tatives, who are proved to be not dependents on the deceased, would still be considered for calculation of compensation more particularly in terms of Constitutional Bench judgment in National Insurance Company Ltd. vs. Pranay Sethi & Ors., (2017) 16 SCC 680? 8. Coming to the facts of the case in hand, it has been admitted by the claimant Deepak Kumar in his cross- examination that both of his sisters i.e. other two claimants, were married and living in their matrimonial homes. Noticeably, there is no whisper from the claimants that despite being married daughters of deceased, both or…

The Pr Commissioner of Income Tax, Hyd vs. Shri Tummala Sri Ram Babu, Vijayawada

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

The Pr. Commissioner of Income Tax, Hyd vs. M/S. Sree Nagendra Constructions, Khammam

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI