U.P. State Industrial Development ... vs Shakti Bhatta Udyog And Ors.

The Supreme Court examined the appeals by the U.P. State Industrial Development Corporation challenging the High Court's enhancement of compensation for acquired lands under the Land Acquisition Act, 1894. The Court held that the High Court's determination of market value at Rs. 8/- and Rs. 9/- per square yard was justified, as the Special Land Acquisition Officer's initial valuation of Rs. 2/- per square yard did not adequately consider the lands' potential for industrial development. The judgment emphasized the importance of assessing market value based on current market conditions and potential use, affirming the High Court's decision.