Reference to Valuation Officer where claimed asset value materially diverges from fair market value, enabling independent valuation. Section 55A permits the assessing officer to refer valuation of a capital asset to a Valuation Officer to ascertain fair market value where the claimed value appears to differ from fair market value, including situations where a registered valuer's estimate is inconsistent with fair market value, where the fair market value materially exceeds the claimed value, or where the asset's nature and circumstances make a reference necessary; valuation officers appointed under wealth taxation rules exercise defined jurisdiction for income tax valuation purposes.