Short Note : 1. The only question that arose for consideration was the determination of the market value of land acquired on the date of the notification under section 4 (1) of the land Acquisition Act. Held: Market value on the basis of which compensation is payable under section 23 of the Act means the price that a willing purchaser would pay to a willing seller for a property having due regard to its existing condition, with all its existing advantages, and its potential possibilities when laid out in its most advantageous manner, excluding any advantages due to the carrying out of the scheme. The value of the potentialities much be ascertained on such material as are available without indulging in feats of imagination. The, land is not to be valued merely by reference to the use to which it is being put at the time at which its value has to be determined, but also by reference to the uses to which it, is reasonably capable of being put in the near future. The land must not be valued as though it had already been built upon. It is the possibilities of the land and not its realised possibilities that must be taken into consideration. The method of valuation may be (1) opinion of experts, (ii) price paid within a reasonable time in bona fide transaction of purchase of lands acquired and the lands adjacent to the lands acquired arid possessing similar advantages and (iii) a number of years purchased of the actual or immediately prospective profits of the lands acquired. Comparable sales on the basis of which market price is determined should be of such lands as are (a) similar in character as far as may be, (b) reasonably proximus to the acquired land, (c) should have similar amenities and advantages and (d) there should be transactions of time reasonably proximus to the date of the acquisition. Appeal allowed.