https://www.taxtmi.com/caselaws?id=179902 Compensation under the Land Acquisition Act was required to be assessed by reference to market value on the date of the section 4(1) notification, and a bona fide recent sale of the same land was treated as the best indicator where it reflected normal market conditions. Because the claimant had purchased the identical land about ten months before acquisition at a much lower price, and no special circumstance justified disregarding that transaction, the court found no basis to displace that valuation. Comparable nearby sales did not show any material error in the High Court's assessment, and interference in a compensation appeal was held unwarranted absent a wrong principle or material omission. Further enhancement was refused and the High Court's compensation award stood. en-us Thu, 01 May 1975 00:00:00 +0530 Fri, 11 Mar 2016 16:37:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179902 Compensation under the Land Acquisition Act was required to be assessed by reference to market value on the date of the section 4(1) notification, and a bona fide recent sale of the same land was treated as the best indicator where it reflected normal market conditions. Because the claimant had purchased the identical land about ten months before acquisition at a much lower price, and no special circumstance justified disregarding that transaction, the court found no basis to displace that valuation. Comparable nearby sales did not show any material error in the High Court's assessment, and interference in a compensation appeal was held unwarranted absent a wrong principle or material omission. Further enhancement was refused and the High Court's compensation award stood. Case-Laws Indian Laws Thu, 01 May 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179902