Shaji Kuriakose And Anr vs Indian Oil Corpn. Ltd. And Ors

The Supreme Court addressed the valuation of land under the Land Acquisition Act, specifically focusing on the Comparable Sales Method as a preferred approach for determining market value. The Court held that while this method is favored, it is not conclusive and must meet certain criteria, including the genuineness of the transaction and proximity to the notification date under Section 4 of the Act. The Court ultimately upheld the High Court's decision to adjust compensation, emphasizing the need for relevant considerations in valuation.