https://www.taxtmi.com/caselaws?id=23782 An income tax officer may make a fresh reference to a competent valuation officer where the earlier valuation was made by an officer legally incompetent and where fresh material relevant to valuation emerged later; the fresh reference is justified to ensure a correct, lawful valuation. The court reasoned that the power to obtain valuation includes ensuring the valuation is performed by the appropriate authority and may be exercised afresh to correct an earlier invalid exercise. Information powers under the evidence gathering provision do not extend to treating Revenue officers as equivalent to persons from whom information is sought. Estoppel cannot bar statutory correction. en-us Mon, 18 Jul 1988 00:00:00 +0530 Mon, 09 Feb 2026 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23782 An income tax officer may make a fresh reference to a competent valuation officer where the earlier valuation was made by an officer legally incompetent and where fresh material relevant to valuation emerged later; the fresh reference is justified to ensure a correct, lawful valuation. The court reasoned that the power to obtain valuation includes ensuring the valuation is performed by the appropriate authority and may be exercised afresh to correct an earlier invalid exercise. Information powers under the evidence gathering provision do not extend to treating Revenue officers as equivalent to persons from whom information is sought. Estoppel cannot bar statutory correction. Case-Laws Income Tax Mon, 18 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23782