https://www.taxtmi.com/caselaws?id=186555 In a section 18 land acquisition reference, market value must be determined afresh on the basis of genuine comparable sale instances proved on the record, as on the section 4 notification date, with suitable adjustments for size, frontage, location and development potential. The Court approved a 25% deduction for largeness of the block and the fixation of the interior land at Rs. 7,000 per acre. It also held that a further present-value discount for a 12-year development wait was unwarranted where that delay had already been reflected in the valuation, because the same factor cannot be counted twice. en-us Thu, 21 Jul 1988 00:00:00 +0530 Thu, 22 Sep 2016 15:54:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186555 In a section 18 land acquisition reference, market value must be determined afresh on the basis of genuine comparable sale instances proved on the record, as on the section 4 notification date, with suitable adjustments for size, frontage, location and development potential. The Court approved a 25% deduction for largeness of the block and the fixation of the interior land at Rs. 7,000 per acre. It also held that a further present-value discount for a 12-year development wait was unwarranted where that delay had already been reflected in the valuation, because the same factor cannot be counted twice. Case-Laws Indian Laws Thu, 21 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186555