https://www.taxtmi.com/caselaws?id=176067 Market value of acquired land is to be assessed by reference to existing advantages and objectively proved potentialities, but building-site potentiality requires evidence of a reasonably near prospect of development shown by surrounding building activity, pressure for building use, or an identifiable trend of expansion. Mere proximity to a school, road access, or scattered houses is insufficient. On interest for enhanced compensation, the statute gives the court discretion only whether to award interest; once granted, the prescribed rate applies at six per cent per annum, and that legal question may be considered even if not earlier raised. The commentary also notes restoration of the enhanced valuation and application of the statutory interest rate. en-us Fri, 23 Sep 1966 00:00:00 +0530 Fri, 11 Dec 2015 14:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176067 Market value of acquired land is to be assessed by reference to existing advantages and objectively proved potentialities, but building-site potentiality requires evidence of a reasonably near prospect of development shown by surrounding building activity, pressure for building use, or an identifiable trend of expansion. Mere proximity to a school, road access, or scattered houses is insufficient. On interest for enhanced compensation, the statute gives the court discretion only whether to award interest; once granted, the prescribed rate applies at six per cent per annum, and that legal question may be considered even if not earlier raised. The commentary also notes restoration of the enhanced valuation and application of the statutory interest rate. Case-Laws Indian Laws Fri, 23 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176067