https://www.taxtmi.com/caselaws?id=470055 A reference to the Valuation Officer under Section 142A of the Income-tax Act, 1961 is described as valid only when assessment or reassessment proceedings are pending. The reference must therefore follow initiation of the relevant proceedings, including issuance of notice under Section 148. Where a valuation reference was made before such notice and no assessment or reassessment was pending, the foundational jurisdiction for Section 142A was absent. Any addition directly based on the resulting valuation report consequently lacked legal support and was described as liable to be deleted in favour of the assessee. en-us Thu, 13 Mar 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470055 A reference to the Valuation Officer under Section 142A of the Income-tax Act, 1961 is described as valid only when assessment or reassessment proceedings are pending. The reference must therefore follow initiation of the relevant proceedings, including issuance of notice under Section 148. Where a valuation reference was made before such notice and no assessment or reassessment was pending, the foundational jurisdiction for Section 142A was absent. Any addition directly based on the resulting valuation report consequently lacked legal support and was described as liable to be deleted in favour of the assessee. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470055