48A. [ Basis of assessment. [Inserted by Punjab Act 3 of 1928]
[The assessment of land- revenue shall be based on an estimate of -(a)the average money value of the net assets of the estate or group of estates in which the land concerned is situated ; or(b)in the case of special assessment of land put to non-agricultural use in an assessment circle or part thereof, -(i)on the average net letting value of a category and class of sites ; or(ii)where for any reason it is not possible to ascertain the net letting value, on the average market value of sites as determined in the manner prescribed :][Provided that when a special assessment is made under section 59, notwithstanding the period fixed for the continuance of an assessment or the limit provided in section 48-B or the area having been declared to be an urban assessment circle, the land-revenuemay be assessed as fixed annual charge payable in a lump sum or by instalments in accordance with [the rules made under this Act] [Inserted by Punjab Act 13 of 1953.][Added by Punjab Act 3 of 1928.].
