Fair market value reference to Valuation Officer enables Assessing Officer to obtain independent valuation for capital gains determination. Section 55A empowers the Assessing Officer to refer valuation of a capital asset to a Valuation Officer to determine its fair market value for capital gains computation where the claimed value appears at variance, where fair market value exceeds the claimed value beyond prescribed thresholds, or where the asset's nature and circumstances make a reference necessary; specified procedural and evidentiary provisions of the Wealth-tax Act apply with necessary modifications, and 'Valuation Officer' is defined by reference to that Act.