Molecular dynamics computer simulations have been performed on liquid CS2 at a temperature of 298 K and a density corresponding to vapor-liquid coexistence. Time-correlation-functions (TCFs) related to the second spectral moments of depolarized Rayleigh scattering were evaluated. The induced molecular polarizability was assumed to be due to dipole-induced dipole interaction. It is shown that second derivative time correlation functions for the spectral TCFs give an insight into the relative importance of translation, rotation and translation-rotation coupling in determining the light scattering. The collective spectral time-correlation-functions were broken down into the contributing component one-, two-, three- and four-body contributions to give detailed insights into the dynamical aspects of the cancellation effect in the light scattering.