https://www.taxtmi.com/caselaws?id=186589 For valuation of a large tract of acquired land with development potential, small sale instances are not a safe direct guide. Market value must be assessed from the standpoint of a prudent willing purchaser, and where the land is large, undeveloped, and requires roads, drainage and civic amenities, substantial deductions for development charges may be justified. The difference in size between the acquired land and the exemplar plots, together with possible statutory restrictions on development, supported the deduction applied. On that basis, the 60% deduction was upheld and the compensation fixed by the High Court was left undisturbed. en-us Wed, 26 Jul 1995 00:00:00 +0530 Fri, 23 Sep 2016 12:31:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186589 For valuation of a large tract of acquired land with development potential, small sale instances are not a safe direct guide. Market value must be assessed from the standpoint of a prudent willing purchaser, and where the land is large, undeveloped, and requires roads, drainage and civic amenities, substantial deductions for development charges may be justified. The difference in size between the acquired land and the exemplar plots, together with possible statutory restrictions on development, supported the deduction applied. On that basis, the 60% deduction was upheld and the compensation fixed by the High Court was left undisturbed. Case-Laws Indian Laws Wed, 26 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186589