The tribunal asked the driver and owner of the tractor to pay the compensation as the vehicle was not insured at the time of the accident.
The boy's parents said that on March 2, 2010, their son was playing with other children in the vacant plot near their house in Najafgarh and the tractor was parked there.
One of the children started the tractor and suddenly, the vehicle hit the boy who received injuries and died on the spot, they said.
"I am of the opinion that petitioners have been able to establish on record that accident did take place due to negligent driving of the offending vehicle at the given date, time and place," MACT presiding officer Amar Nath said.
The driver and owner of the tractor did not appear before the tribunal to contest the petition and thus were proceeded ex-parte.
The tribunal, in its order, relied on the judgements of the superior courts and said that in the cases involving children, a "lump sum compensation" has been awarded.
"In the present case, the deceased was aged about seven years at the time of the accident and student of Class II... I award a sum of Rs 3,75,000 to the petitioners as compensation," Nath said.
