Heard the learned counsel on either side.
2.The claimant has filed this appeal seeking enhancement. The deceased was one Velmurugan, aged 32 years. He was working as a Regional Manager in Tablets (India) Limited. The Tribunal has correctly fixed the monthly income at Rs.22,600/-. It however did not add future prospects. It chose to square off the future prospects with the income tax deduction which he will have to suffer. This is not correct. If future prospects are added, the monthly income of the deceased can be rounded off to Rs.30,000/-. After deducting 1/3rd what would be available for the family is Rs.20,000/- per month. After adopting multiplier 16, the pecuniary loss can be quantified at Rs.38,40,000/-. After adding damages under the conventional heads, the amount would come to Rs.40,00,000/-. The Tribunal has fixed the contributory negligence at 25% on the deceased. Therefore the compensation payable to the claimants would come to Rs.30,00,000/-. At the same time, 10% will have to be deducted for income tax. Therefore, the claimants are entitled to Rs.27,00,000/-. The third respondent insurance company must furnish Form 16 to the claimant as proof of tax deduction at source.
3.The award dated 18.09.2012 made in M.C.O.P.No.269 of 2012, on the file of the Motor Accident Claims Tribunal, (IV Additional District Court), Tirunelveli is modified accordingly.
4.The third respondent insurance company is directed to deposit the entire compensation amount of Rs.27,00,000/- with interest at the rate of 7.5% per annum from the date of petition till the date of realization, and costs, within a period of eight weeks from the date of receipt of a copy of this order, less the amount already deposited, if any. On such deposit, the claimants are entitled to withdraw the same by filing proper application as apportioned by the Tribunal, less the amount already withdrawn by them, if any. The insurance company is permitted to withdraw the same.
5.This Civil Miscellaneous Appeal is allowed. No costs. Consequently, connected miscellaneous petition is closed.
To
1.The Motor Accidents Claims Tribunal, (IV Additional District Court), Tirunelveli
2.The Record Keeper, Madurai Bench of Madras High Court, Madurai.
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