Amendment status not verified — confirm the current text below against the official source.
(1) In preparing the Compensation Assessment Roll for Every intermediary referred to in clause mpensation (b) of sub-section (1) of section 31, the Compensation Officer shall take the gross income of such inte- interme- rmediary to be the average annual income calculated on the baisi of annual returns filed by him for the aries referred assessment of cess or income-tax during the period of eight agricultural years immediately preceding in section 31(1)(b). the aricultural year within which the date of vesting falls,or any shorter period for which returns have been filed; and an amount equal to five per centum of such gross income shall be deemed to be the net income from such mines. (2) The Compensation Officer shall then determine the amount of compenstion payable to the intermediary as aforesaid, after taking into consideration his net income and the opinion of a Mining Expert appointed by the State Government as regards the extent of the mining operations. --------------------------------------------------------------------------------------------------------------------------- 1These words with the square brackets were substituted for the words “Calculate the probable gross annual income” by s. 16(1) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Ben. Act. IX of 1961). 2These words within the square brackets were substituted for the words “Mining expert” by s. 16(2), ibid. 3These words within the square brackets were substituted for the words”such probable gross income”by s. 16(3), ibid. 3See foot-note 4 on page 40, ante. Page. …. 42. 46 ( Chapter IV. --- Mines and Minerals. Section 34.) carried on, the minerals obtained and the estimated quantity and value of the minerals not yet worked or operated, and as regards any other matter that any be prescribed. Where the intermediary has no estates or interests for which he is entitled to compensation under Chapter III, the compensation payable to him shall be eight times the net income as calculated under this section. Where the intermediary has estates or interests for which compensation is payable under Chapter III, the Compensation Officer shall calculate the total amount which would have been payable in accordance with the table contained in sub-section (1) of section 17 as if the net income had been the aggregate of the net income calculated in respect of the estates or interests for which compensation is payable under Chapter III and the net income calculated under his section; the Compensation Officer shall also calculate the total amount which would have been payable as compensation if compensation for estates and interests and compensation for mines and minerals has been calculated separately ; and the lesser of the two total amounts of compensation so calculated shall be the amount of compensation payable. termination