Section 29 in The Administator-General's (United Provinces) Rules, 1929
29. Valuation for calculating fees under Section 42.
- For the purpose of calculating the fees under Section 42 of the Act assets shall be valued as follows :-(1)The value of movable assets (other than cash) shall be -(a)the price realized on sale;(b)if there be no such sale then the value of the property on the date of its transfer to the heir, legatee or creditor:Provided that if in any particular case the Administrator General considers it necessary he may get the property valued by an expert whose charges shall be paid out of the funds of the estate.(2)The value of immovable assets shall be (a)the price realized on sale ;(b)if the property is not sold, the value of the property as estimated by the Collector or agreed upon between the Administrator-General and the person to whom it is transferred.(3)Income, where the same is deprived from the carrying on of any trade or business, shall mean the gross receipts of such trade or business.Note. - Collection and management charges shall not be deducted from the gross rent or income for the purpose of assessment of fee under this rule.
