https://www.taxtmi.com/caselaws?id=194738 Compensation for acquired land must be fixed by assessing market value on the date of notification with reference to the land's existing advantages, geographical situation, non-agricultural potentiality, and comparable nearby sales. A mechanical distance-based reduction from the highway was improper because it ignored the land's developed surroundings, including access to highways, railway connectivity, industrial estates, and adjoining developed areas. Development deductions may be made only on a principled basis, not by formula. The Reference Court's award of Rs. 25 per square meter was therefore restored, and the higher compensation with consequential statutory benefits and interest was upheld. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 07 Aug 2018 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194738 Compensation for acquired land must be fixed by assessing market value on the date of notification with reference to the land's existing advantages, geographical situation, non-agricultural potentiality, and comparable nearby sales. A mechanical distance-based reduction from the highway was improper because it ignored the land's developed surroundings, including access to highways, railway connectivity, industrial estates, and adjoining developed areas. Development deductions may be made only on a principled basis, not by formula. The Reference Court's award of Rs. 25 per square meter was therefore restored, and the higher compensation with consequential statutory benefits and interest was upheld. Case-Laws Indian Laws Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194738