respective claims. Analysing the evidence produced by the parties and adopting capitalization methods, he determined the quantum of compensation for the lands and trees acquired ... method for determination of market value. In absence of any of these methods, market value can be determined by capitalizing number of years, purchase
said property as immovable property and valued it on rent capitalization method. In the impugned assessment order the AO however, held that since the land ... only, in the wealth-tax assessments value was assessed on rent capitalization method at Rs. 2,40,612. He stated that in all the past
using 16 multiplier under the capitalization method assessed that the market value of the acquired land was Rs. 2,04,363.36. Besides the value ... have ruled that while assessing the value of agricultural land under capitalization method, multiplier of more than 12 is not permissible. The said ratio
this Court reiterated the methods of valuation and
also stated that those methods do not preclude the Court from
taking into consideration other circumstances ... this Court
held that when capitalization method for valuation is applied,
proper multiplier should be 10. Similarly, in Special Land
Acquisition Officer v. Virupax Shankar
basis of rent capitalization method.
4. The Revenue as well as the assessee preferred further appeals against the order dt. 30th March, 1992 passed
Court would adopt while arriving at a conclusion. Should it adopt capitalization method, multiple method, belting system or evolve any other method which necessarily would
market value payable on the principle of valuation by income capitalization method, he determined the compensation payable for the entire acquired area of 285 hectares
determined on the basis of 10 years' net income, if capitalization method was to be applied. The Supreme Court has taken the same view
various methods giving different valuation. As per P/E Ratio method, the value of their holding came to Rs. 78 lacs. On Income Capitalization Method
would be the proper basis in determining the market value by method of capitalization and the same, is just and reasonable principle. The Supreme Court ... years multiplier is the proper method of valuing the lands by capitalization method.
30. The same view was taken in Vitthalbhai Bakorbhai (dead
