https://www.taxtmi.com/news?id=13059 The Assessing Officer may require a Valuation Officer to estimate the value, including fair market value, of any asset, property or investment for assessment or reassessment, whether or not satisfied about the correctness of accounts. The Valuation Officer shall have powers akin to section 38A of the Wealth-tax Act, consider evidence produced by the assessee, give an opportunity of being heard, and may estimate value to the best of his judgment if the assessee does not co-operate. The Valuation Officer must send his estimate to the Assessing Officer and the assessee within the prescribed report period, and that period is excluded from the statutory time limit for completion of assessment or reassessment. en-us Sun, 13 Jul 2014 16:34:14 +0530 Sun, 13 Jul 2014 16:34:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13059 The Assessing Officer may require a Valuation Officer to estimate the value, including fair market value, of any asset, property or investment for assessment or reassessment, whether or not satisfied about the correctness of accounts. The Valuation Officer shall have powers akin to section 38A of the Wealth-tax Act, consider evidence produced by the assessee, give an opportunity of being heard, and may estimate value to the best of his judgment if the assessee does not co-operate. The Valuation Officer must send his estimate to the Assessing Officer and the assessee within the prescribed report period, and that period is excluded from the statutory time limit for completion of assessment or reassessment. News - Sun, 13 Jul 2014 16:34:14 +0530 https://www.taxtmi.com/news?id=13059