https://www.taxtmi.com/caselaws?id=187027 A comparable sale deed is usable for market valuation only if it reflects a reliable market transaction; a grossly low exemplar inconsistent with contemporaneous higher-value sales may be treated as an unreliable or distress sale and excluded, with market value then derived from more reliable sales after suitable time adjustment. For large undeveloped land valued against small developed plots, deduction for development cost is linked to converting retail plot value into wholesale land value and cannot be refused merely because the acquisition is for a jail or other public purpose; the purpose of acquisition does not justify inflating compensation, though the deduction rate may be moderated to reflect the land's location and existing advantages. en-us Tue, 20 Oct 2009 00:00:00 +0530 Sat, 23 Sep 2023 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187027 A comparable sale deed is usable for market valuation only if it reflects a reliable market transaction; a grossly low exemplar inconsistent with contemporaneous higher-value sales may be treated as an unreliable or distress sale and excluded, with market value then derived from more reliable sales after suitable time adjustment. For large undeveloped land valued against small developed plots, deduction for development cost is linked to converting retail plot value into wholesale land value and cannot be refused merely because the acquisition is for a jail or other public purpose; the purpose of acquisition does not justify inflating compensation, though the deduction rate may be moderated to reflect the land's location and existing advantages. Case-Laws Indian Laws Tue, 20 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187027