Correct Answer:
C. In prescribed manner
The foundational concept here is that legal processes require clear, predefined methods for valuation to ensure fairness and consistency. 'In prescribed manner' is the correct option because legal statutes typically outline specific procedures, rules, or guidelines for determining the value of hoarded articles. This ensures a standardized and legally defensible assessment.
- A) 'By Court' and B) 'By Special Magistrate' are incorrect because while these authorities oversee legal proceedings, they generally don't personally conduct the valuation; they ensure the prescribed method is followed.
- D) 'By market price only' is too narrow; the prescribed manner might involve various factors beyond just the current market price, such as cost, condition, or expert appraisal.