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A person "X" is having a Plot of land ,say 15000 Sq.Ft.,in form of "Patta"in residential area ,in Jan.2013.
Now in Mar 2013,UIT has acquired the land from" Mr.X" in lieu of Compulsory Acquisition instead of cash payment ,a land was allotted to him of the equal area in urban area.
Query is that What would be the Cost of Acquisition for "Mr.X"of the land in urban area? Whether the cost of Rural Area or fair market value in urban area?
Please reply with support of case law.
Thanks in advance. |
