Valuation referral procedure for asset assessment: Valuation Officer estimates market value and Assessing Officer must follow that estimate. Section 16A permits the Assessing Officer to refer valuation of assets to a Valuation Officer where market value governs assessment and the Assessing Officer suspects under declaration or considers a reference necessary. The Valuation Officer may require documents, may confirm declared values or propose higher estimates after giving notice and hearing the assessee, and must issue a written estimate communicated to both the Assessing Officer and the assessee, whereupon the Assessing Officer completes the assessment in conformity with that estimate.