How to determine the market value of agricultural produce where produce has no market?

Ans. If produce has no market in its raw form or after the application of ordinary marketing process, the market value shall be the aggregate of the following:

a. Expenses of cultivation;

b. Land revenue or rent paid for the area in which it was grown; and

c. Such amount of profits as the Assessing Officer may find reasonable, having regard to the circumstances of the case.