Actual Value - Definition - Law Dictionary Home Dictionary Definition actual-value

Definition :

Actual value, the expression 'actual value' occurring in the scheme means the market value and not the cost to the corporation, Aluminium Corporation of India v. Union of India, (1983) 3 SCC 300: AIR 1983 SC 751 (752). [Emergency Risks (Factories) Insurance Act, 1962, s. 3]