Housing Loan Interest Cannot Reduce Motor Accident Compensation: Bombay High Court

The Bombay High Court recently delivered an important judgment concerning the calculation of compensation under the Motor Vehicles Act. The Court held that the interest paid on a housing loan cannot be deducted from the income of a deceased person while determining the amount of compensation payable to the dependents of a road accident victim. This decision clarifies that the rules used for computing income for tax purposes cannot be…