Section 2(1) in The West Bengal Rural Employment And Production Act, 1976
(1)[ "annual value of coal-bearing land", in relation to a financial year, means one-half of the value of coal, produced from such coal-bearing land during the two years immediately preceding that financial year, the value of coal being that as could have been fetched by the entire production of coal during the said two immediately preceding years, had the owner of such coal-bearing land sold such coal at the price or prices excluding the amount of tax, cess, fee, duty, royalty, crushing charge, washing charge, transport charge or any other amount as may be prescribed, that prevailed on the date immediately preceding the first day of that financial year.] [[Clauses (1), (1a), (1b) and (1c) Substituted for former clause (1) by W.B. Act 2 of 1992. Former clause (1) was as under :-'(1) 'development value' means a sum equivalent to five times the annual value of land as assessed under the Cess Act, 1880;'.]]Explanation. - Where different prices are prevailing on the date immediately preceding the first date of that financial year for different grades or qualities of coal, the value of coal of each grade or quality produced during the two years immediately preceding, that financial year shall be determined accordingly;
