https://www.taxtmi.com/article/detailed?id=11189 The proposed amendment allows the Assessing Officer, with higher authority approval, to direct an assessee to obtain an inventory valuation by a cost accountant nominated by tax authorities where specified indicators (complexity, volume, doubts about correctness, multiplicity of transactions, specialised activity, or interests of revenue) exist; the cost accountant must furnish a prescribed report, the assessee is given opportunity of being heard, and remuneration/expenses are determined by designated commissioners and in many cases paid by the Central Government. en-us Fri, 10 Mar 2023 10:06:41 +0530 Fri, 10 Mar 2023 10:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11189 The proposed amendment allows the Assessing Officer, with higher authority approval, to direct an assessee to obtain an inventory valuation by a cost accountant nominated by tax authorities where specified indicators (complexity, volume, doubts about correctness, multiplicity of transactions, specialised activity, or interests of revenue) exist; the cost accountant must furnish a prescribed report, the assessee is given opportunity of being heard, and remuneration/expenses are determined by designated commissioners and in many cases paid by the Central Government. Articles Income Tax Fri, 10 Mar 2023 10:06:41 +0530 https://www.taxtmi.com/article/detailed?id=11189