In Brief
Gopal Krushna Goshala involved the determination of fair compensation for homestead land acquired by the Orissa Industrial Infrastructure Development Corporation. The High Court had reduced compensation from Rs. 5 lakhs to Rs. 2.50 lakhs per acre. The Supreme Court, noting sale deeds placed on record by the landowners, set aside the High Court's reduction and fixed fair compensation at Rs. 4 lakhs per acre, with all statutory benefits and interest payable thereon. The Court emphasized that sale deeds evidencing actual market transactions are relevant to determining just compensation for acquired land."
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