Information sharing requirement: IACs(Acquisition) must notify assessing officers and update valuations to ensure consistent tax assessment. IACs (Acquisition) must notify assessing officers at the initiation of acquisition proceedings and keep them apprised of valuation estimates and the final decision; valuation references should request Valuation Officers to check prior valuations with assessing officers; assessing officers must examine the information for direct tax implications and take necessary assessment action to avoid inconsistent treatment and underassessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Information sharing requirement: IACs(Acquisition) must notify assessing officers and update valuations to ensure consistent tax assessment.
IACs (Acquisition) must notify assessing officers at the initiation of acquisition proceedings and keep them apprised of valuation estimates and the final decision; valuation references should request Valuation Officers to check prior valuations with assessing officers; assessing officers must examine the information for direct tax implications and take necessary assessment action to avoid inconsistent treatment and underassessment.
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