https://www.taxtmi.com/caselaws?id=456338 Market value in land acquisition must be assessed as on the date of the section 4 notification on the basis of reliable proved material, and the most proximate genuine sale instance may be preferred where other evidence lacks comparability or support. A small plot sold from the same survey number before the notification was treated as the best comparable, but its size and frontage advantage required suitable deduction. Because the acquisition was for a railway line, no development-charge deduction was made. On that basis, compensation was enhanced and market value fixed at Rs. 27 per sq. ft. with statutory benefits under sections 23(1A), 23(2) and 28 of the Land Acquisition Act, 1894. en-us Wed, 09 Jan 2019 00:00:00 +0530 Wed, 17 Jul 2024 20:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456338 Market value in land acquisition must be assessed as on the date of the section 4 notification on the basis of reliable proved material, and the most proximate genuine sale instance may be preferred where other evidence lacks comparability or support. A small plot sold from the same survey number before the notification was treated as the best comparable, but its size and frontage advantage required suitable deduction. Because the acquisition was for a railway line, no development-charge deduction was made. On that basis, compensation was enhanced and market value fixed at Rs. 27 per sq. ft. with statutory benefits under sections 23(1A), 23(2) and 28 of the Land Acquisition Act, 1894. Case-Laws Indian Laws Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456338