FOR LEARNING OF ALL CONCERNED REFERENCE BY AO TO DVO AT LAST MOMENT CONSIDERED AN ATTEMPT TO GAIN TIME AND EXTEND LIMITATION GUJARAT HC -TIMELY STEPS ARE DESIRABLE BY ALL TAX OFFICERS AND ASSESSEE

FOR LEARNING OF ALL CONCERNED REFERENCE BY AO TO DVO AT LAST MOMENT CONSIDERED AN ATTEMPT TO GAIN TIME AND EXTEND LIMITATION GUJARAT HC -TIMELY STEPS ARE DESIRABLE BY ALL TAX OFFICERS AND ASSESSEE https://www.taxtmi.com/article/detailed?id=17373 Last-minute references to a District Valuation Officer under Section 142A, made immediately before assessment limitation under Section 153 expires, may be a colourable exercise where no bona fide valuation requirement exists. Valuation of fixed assets may not be relevant where the actual issue concerns the allowability of depreciation based on ownership or business use. A valid valuation reference requires independent application of mind, cogent material, recorded reasons, and satisfaction of statutory conditions. Timely valuation action is necessary to prevent artificial extension of assessment proceedings. en-us Thu, 10 Sep 2026 09:26:55 +0530 Thu, 10 Sep 2026 09:26:56 +0530 TaxTMI RSS Generator FOR LEARNING OF ALL CONCERNED REFERENCE BY AO TO DVO AT LAST MOMENT CONSIDERED AN ATTEMPT TO GAIN TIME AND EXTEND LIMITATION GUJARAT HC -TIMELY STEPS ARE DESIRABLE BY ALL TAX OFFICERS AND ASSESSEE https://www.taxtmi.com/article/detailed?id=17373 Last-minute references to a District Valuation Officer under Section 142A, made immediately before assessment limitation under Section 153 expires, may be a colourable exercise where no bona fide valuation requirement exists. Valuation of fixed assets may not be relevant where the actual issue concerns the allowability of depreciation based on ownership or business use. A valid valuation reference requires independent application of mind, cogent material, recorded reasons, and satisfaction of statutory conditions. Timely valuation action is necessary to prevent artificial extension of assessment proceedings. Articles Other Topics Thu, 10 Sep 2026 09:26:55 +0530 https://www.taxtmi.com/article/detailed?id=17373