9911796707
TMI Blog1986 (2) TMI 133X X X X Extracts X X X X X X X X Extracts X X X X ..... r Sub-Judge, Gurgaon for enhancement of compensation. By his order dt. 17th Aug., 1959 the Senior Sub-Judge determined the price of the land at Re 1 per sq. yd. The assessee still dissatisfied with this enhancement in compensation, filed appeal before the Hon ble High Court of Punjab and Haryana at Chandigarh. The High Court determined the market value of the land acquired at Rs. 8000 per acre in addition to other compensation and interest. Still dissatisfied with the judgment of the High Court, the assessee filed further appeal before the Supreme Court, which is still pending. The further claim made before the Supreme Court was for a sum of Rs. 1,14,000. 3. For the purpose of wealth-tax assessments, the amount originally awarded by the H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view taken by the Revenue in the arguments addressed before us. In the case before the Supreme Court in the case of Khorshed Shapoor Chenai, Mrs. Vs. Asstt. CED (1980) 14 CTR (SC) 356 : (1980) 122 ITR 21 (SC), Supreme Court pointed out that however lands are compulsorily acquired under the Land Acquisition Act, there are no two rights, one a right to receive compensation and the other a right to receive extra compensation. The claimant has only one right i.e. to receive compensation of the lands at their market value on the date of the relevant notification and it is that right that is to be quantified by the Collector under s. 11 and the Civil Court under s. 26 of the Land Acquisition Act. The Supreme Court pointed out that the Collector s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessing authority, the Supreme Court directed, will have to estimate the value having regard to the peculiar nature of the property, its marketability and the surrounding circumstances including the risk or hazard of litigation coming large on the relevant valuation date. It is thus settled law that the compensation ahs to be estimated by the WTO on the relevant valuation date and the estimation can never be equal to the claim made by the claimant. In this case the High Court has already decided the compensation in a particular way and since the State of Punjab and Haryana was not in appeal against the award given by the High Court, it can be safely presumed that the amount had become final. In the litigation before the Supreme Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
