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Joseph Vallooran vs Commissioner Of Income-Tax on 12 December, 1975 cites

Raghubans Narain Singh vs The Uttar Pradesh Government Through ... on 23 September, 1966

7. "Market value" has no definition under the statute. Therefore, its meaning under other comparable laws can be adopted as guideline for our purpose. Under Section 23 of the Land Acquisition Act of 1894, market value of the land at the date of publication of the notification under Section 4(1) of that Act is the foundation for determining compensation. It has been indicated by the Supreme Court in the case of Raghubam Narain Singh v. Uttar Pradesh Government AIR 1967 SC 465 that "market value" means the price that a willing purchaser would pay to a willing seller for a property having due regard to its existing condition, with all its existing advantages, and its potential possibilities when laid out in its most advantageous manner, excluding any advantages due to the carrying out of the scheme for the purposes for which the property is compulsorily acquired.
Supreme Court of India Cites 9 - Cited by 158 - J M Shelat - Full Document

The Special Land Acquisition Officer, ... vs T. Adinarayan Setty on 7 November, 1958

In the case of Special Land Acquisition Officer v. T. Adinarayan Setty AIR 1959 SC 429, it has been pointed out that the function of the court in awarding compensation under the Land Acquisition Act is to ascertain the market value of the land at the date of the notification under Section 4(1) and the methods of valuation may be : (i) opinion of experts ; (ii) the price paid within a reasonable time in bona fide transactions of purchase of the lands acquired or the lands adjacent to the lands acquired and possessing similar advantages ; and (iii) a number of years' purchase of the actual or immediately prospective profits of the lands acquired.
Supreme Court of India Cites 4 - Cited by 422 - S K Das - Full Document
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