Court Opinion

ID: 9750923
Source: CourtListenerOpinion
Date Created: 2023-08-28 15:48:23.954026+00
Date Added: 2024-06-11T07:26:29.158745
License: Public Domain

Dissenting Opinion by
Mr. Justice Cohen :
The majority and the lower court rely upon the capitalization of net income as the sole factor in computing the market value. While I would agree that capitalization of net income is one of the factors to be considered by the Court, I would not hold that it can be the sole factor for the determination of market value. The complexities of determining net income as evidenced by the variables set forth in the majority opinion, and the difficulty of capitalization after net *68income is determined, substantiate my opinion. Net income is so inexorably dependent on the ability of management that it alone is not a reliable guide to market value. I would remand this case to the lower court for the determination of fair market value by resorting to additional available proofs.
.1 dissent.
Mr. Chief Justice Bell joins in this dissent.