Amendment status not verified — confirm the current text below against the official source.
(1) Where by reason of the foregoing provisions the net income derived by any religious, educational or charitable institution from any estate or part of an estate belonging to it in the fasli year 1357 or in any subsequent fasli year until the commencement of the fasli year in which the estate may finally be taken over by the [State] Government, becomes less than the average net income derived by the institution from such estate or part during the five fasli years preceding the fasli year 1357 or during that portion of those fasli years in which the estate or part was in the ownership of the institution, as the case may be, the [State] Government shall make good the loss sustained by institution by paying to it at the end of the fasli year in question the amount of the difference between the net income derived by the institution in such fasli year and the average net income aforesaid. (2) The average net income aforesaid and the net income derived in each of the fasli years beginning with the fasli year 1357 shall, for the purposes of sub-section (1), be determined by such authority and, in such manner, as may be laid down in rules made by the [State] Government. [(3) In determining the net income or the average net income aforesaid, all amounts which accrued due to the institution concerned during the relevant fasli year or years shall be taken into account whether the amounts were actually collected or not.] Substituted by Adaptation Order of 1950. Added by Madras Estates Land (Reduction of Rent) Amendment Act, 1949 (Madras Act XXXIX of 1949).