DOLLAR COMPANY, MADRAS vs COLLECTOR OF MADRAS

The Supreme Court upheld the High Court's valuation of land compensation under Section 23 of the Land Acquisition Act, 1894, emphasizing that market value is determined by what a willing purchaser would pay a willing vendor. The Court clarified that the best evidence of property value is the sale of the property itself or comparable sales if the original sale was long ago. The appeal for higher compensation was dismissed as the High Court's judgment was found to be correct and no error in principle was established.