Reference to Valuation Officer allows asset valuations for assessment while preserving the assessee's opportunity to be heard. Section 142A allows the Assessing Officer to refer any asset, property or investment to a Valuation Officer for estimation of value, including fair market value, whether or not the AO is satisfied with the assessee's accounts. The Valuation Officer must consider evidence presented by the assessee, give an opportunity to be heard, and may use best judgment if the assessee does not cooperate. The VO must supply the valuation report to the AO and assessee within six months, and the AO may take that report into account when completing assessment or reassessment.