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(1) Subject to the provisions of sub-sections (2), (3) and (4), the value of the property and other assets of a debtor for the purposes of ascertaining the paying capacity of the debtor under section 27 shall be determined by the Court in the prescribed manner. (2) The property or assets which are exempt from attachment in execution of a decree of a civil court under the Code of Civil Procedure, 1908 (V of 1908), shall not be taken into account. (3) The amount of the debts mentioned in section 3 shall be deducted. (4) The market value of the lands, which under any law for the time being in force, are not transferable or alienable except with the previous sanction of the Collector or the 1[State] Government, shall be calculated in such manner as may be prescribed.
<span style="margin-left:15px;"></span>(<i>1</i>) Subject to the provisions of sub-sections (<i>2</i>), (<i>3</i>) and (<i>4</i>), the value of the property and other assets of a debtor for the purposes of ascertaining the paying capacity of the debtor under section 27 shall be determined by the Court in the prescribed manner.<br> <span style="margin-left:15px;"></span>(<i>2</i>) The property or assets which are exempt from attachment in execution of a decree of a civil court under the Code of Civil Procedure, 1908 (V of 1908), shall not be taken into account.<br> <span style="margin-left:15px;"></span>(<i>3</i>) The amount of the debts mentioned in section 3 shall be deducted.<br> <span style="margin-left:15px;"></span>(<i>4</i>) The market value of the lands, which under any law for the time being in force, are not transferable or alienable except with the previous sanction of the Collector or the <sup>1</sup>[State] Government, shall be calculated in such manner as may be prescribed. <br>