Translation: The NIV renders this passage:
"By oppression and judgment, he was taken away. And who can speak of his descendants? For he was cut off from the land of the living; for the transgression of my people he was stricken."
Gileadi renders it:
"By arrest and trial he was taken away. Who can apprise his generation that he was cut off from the land of the living for the crime of my people, to whom the blow was due?" (Gileadi 11988, p. 202).
The NEB has:
"He was arrested and sentenced and taken away, and who gave a thought to his fate - how he was cut off from the world of the living, stricken to death for my people's transgression?"
The renditions of the verse agree on judgement. Most agree that he was taken away by judgement, where the KJV has him taken from prison. It would appear that it is a better translation to have the judgement applied against him, rather than the judgement removing him from prison.
The next focal point of translation differences is the concept of "generations." The NEB gives the most creative rendition, assuming that it addresses his fate. The KJV assumes "generations" refers to forebears, and the NIV assumes descendants. Gileadi has it as his contemporaries. That is a wide range of possibilities. Based on the question in which this critical term appears, and the correlation to Isaiah 53:1 which began with a question, the intent would appear to be parallel. These are questions that are not answerable. Since the first rhetorical question dealt with the past (the past prophets who have declared the report, which was not believed) this may also refer to past - and indicate that his origin/true origin would be unknown, perhaps here a reference to his divine parentage. Sidney Sperry, however, opts for the interpretation of "generations" as descendants (Sperry, Sidney B. Book of Mormon Compendium. Bookcraft, 1968, p. 304).
The final point of the verse is dramatically clear. This suffering servant will be put to death for the sins of the people. While rendered somewhat obliquely in the KJV, "cut off of the land of the living" is still recognizable as death.