https://www.taxtmi.com/caselaws?id=9683 The High Court of BOMBAY held that the Assessing Officer lacked the competence to seek valuation of the property under section 55A of the Income-tax Act, 1961 after passing the assessment order. The court emphasized that the purpose of valuation under section 55A is for the computation of total income and completion of the assessment order, which had already been done in this case. Therefore, the court declared the notice issued under section 55A as legally invalid and quashed it. en-us Mon, 03 Apr 2006 00:00:00 +0530 Mon, 29 Jun 2009 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9683 The High Court of BOMBAY held that the Assessing Officer lacked the competence to seek valuation of the property under section 55A of the Income-tax Act, 1961 after passing the assessment order. The court emphasized that the purpose of valuation under section 55A is for the computation of total income and completion of the assessment order, which had already been done in this case. Therefore, the court declared the notice issued under section 55A as legally invalid and quashed it. Case-Laws Income Tax Mon, 03 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9683