CHIMANLAL HARGOVINDDAS vs SPECIAL LAND ACQUISITION OFFICER, POONA, AND ANR.

The Supreme Court addressed the valuation of land under acquisition, specifically criticizing the High Court's deduction of 25% instead of the Trial Court's 20% for the size of the land block. The Court upheld the High Court's valuation of Rs.7000 per acre but found fault with its method of determining present value based on an unrealistic time lag for development. The Court ultimately awarded compensation at Rs.5250 per acre after accounting for the necessary deductions, establishing that present value should reflect future market conditions rather than an arbitrary reduction.