https://www.taxtmi.com/caselaws?id=289549 Compensation for compulsorily acquired land is to be fixed at market value on the valuation date, applying the willing vendor and willing purchaser test and excluding any increase caused by the acquisition scheme. Land must be valued with its existing advantages and potentialities, so special adaptability remains a real element of value even if only a limited class of buyers could exploit it and the acquiring body is the only practical purchaser. The post-acquisition use of the land cannot be used to inflate valuation, but the special adaptability itself is not to be ignored when assessing what a willing purchaser would have paid on the notification date. en-us Thu, 23 Feb 1939 00:00:00 +0530 Thu, 06 Aug 2020 11:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289549 Compensation for compulsorily acquired land is to be fixed at market value on the valuation date, applying the willing vendor and willing purchaser test and excluding any increase caused by the acquisition scheme. Land must be valued with its existing advantages and potentialities, so special adaptability remains a real element of value even if only a limited class of buyers could exploit it and the acquiring body is the only practical purchaser. The post-acquisition use of the land cannot be used to inflate valuation, but the special adaptability itself is not to be ignored when assessing what a willing purchaser would have paid on the notification date. Case-Laws Indian Laws Thu, 23 Feb 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289549