https://www.taxtmi.com/caselaws?id=175416 A nationalisation law concerning electricity undertakings was treated as a measure giving effect to Article 39(b), with electrical energy recognised as a material resource of the community. The Court found a direct nexus between the acquisition scheme and the common good, so the legislation was protected by Article 31C and was not a colourable exercise of power. The book-value basis for compensation was upheld as a valid statutory valuation method and not illusory, while challenges to exclusion of service lines, deductions for reserves and liabilities, and the assessment and arbitration machinery were rejected as reasonable and workable. The acquisition scheme and amending provisions were therefore constitutionally valid. en-us Thu, 13 Apr 1989 00:00:00 +0530 Fri, 20 Nov 2015 15:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175416 A nationalisation law concerning electricity undertakings was treated as a measure giving effect to Article 39(b), with electrical energy recognised as a material resource of the community. The Court found a direct nexus between the acquisition scheme and the common good, so the legislation was protected by Article 31C and was not a colourable exercise of power. The book-value basis for compensation was upheld as a valid statutory valuation method and not illusory, while challenges to exclusion of service lines, deductions for reserves and liabilities, and the assessment and arbitration machinery were rejected as reasonable and workable. The acquisition scheme and amending provisions were therefore constitutionally valid. Case-Laws Indian Laws Thu, 13 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175416