https://www.taxtmi.com/circulars?id=9964 A reference to a Valuation Officer under section 16A is permissible only where Schedule III requires market value to be taken for assessment; such reference is mandatory when section 16A(1) applies and the Assessing Officer may not decide valuation independently. Where Schedule III does not require market value, no reference under section 16A should be made and the asset's value must be computed as per the relevant rule in Schedule III. en-us Wed, 09 Dec 1992 00:00:00 +0530 Thu, 09 Jun 2011 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9964 A reference to a Valuation Officer under section 16A is permissible only where Schedule III requires market value to be taken for assessment; such reference is mandatory when section 16A(1) applies and the Assessing Officer may not decide valuation independently. Where Schedule III does not require market value, no reference under section 16A should be made and the asset's value must be computed as per the relevant rule in Schedule III. Circulars Income Tax Wed, 09 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9964